Co-Diagnostics, Inc. (NASDAQ: CODX) announced that its Indian joint venture, CoSara Diagnostics Pvt. Ltd., has signed an agreement to expand its commercial and distribution territory across South Asia to include Bangladesh, Pakistan, Nepal and Sri Lanka. This expansion significantly increases the company's addressable market to an estimated $13.0 billion, according to the press release.
The expansion supports planned commercialization of the CoSara PCR Pro(R) point-of-care platform and SARAGENE(R) product line, subject to regulatory approvals. As the company builds regional distribution channels, it positions for broader deployment of its molecular diagnostics solutions. The move comes as Co-Diagnostics continues to leverage its proprietary technology to design specific tests for its Co-Dx PCR at-home and point-of-care platform, which is subject to regulatory review and not currently for sale.
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets state-of-the-art diagnostics technologies. The company's technologies are utilized for tests designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The company also uses its proprietary technology to identify genetic markers for use in applications other than infectious disease.
The expansion into new territories in South Asia represents a strategic move to capture a larger share of the diagnostics market in the region. With an estimated addressable market of $13.0 billion, the company aims to strengthen its presence and provide its innovative diagnostic solutions to a broader population. The CoSara PCR Pro platform and SARAGENE product line are expected to play a key role in this expansion, pending necessary regulatory approvals.
For more information about Co-Diagnostics, visit https://co-dx.com/. The full press release can be accessed at https://ibn.fm/2aATV.
