Co-Diagnostics, Inc. and LGC Sign License Agreement for CoPrimer Technology
Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, proprietary platform for the development of molecular diagnostic tests, and LGC, Biosearch Technologies, a global leader in the design, development, and manufacture of sophisticated, custom oligonucleotide-based tools and associated reagents for applied markets, announced today that they have signed an exclusive license agreement related to the use of the Company’s CoPrimer™ technology for both research and commercial applications.
This Agreement is the result of a joint development project conducted over the past year to test the performance of CoPrimers in multiplexed reactions when locating specific genetic traits in seed products and genetic mutations, including SNP detection.
Dwight Egan, CEO of Co-Diagnostics, commented, “The importance of the validation for our company and technology provided by this license agreement cannot be overstated. We believe the participation of an industry leading portfolio like Biosearch Technologies speaks volumes about the quality and uniqueness of our CoPrimer platform technology. As Biosearch Technologies clients begin to adopt our technology under the terms of this agreement, we look forward to offering our CoDX Design Services to help streamline and improve their operations, as well as to introducing them to further applications of CoPrimers to widen our customer base.
“Co-Diagnostics anticipates this to be the first of many CoPrimer technology license agreements where the accuracy, time- and cost-saving advantages of true multiplex polymerase chain reaction (“PCR”), without concern of cross-reactivity among primer sets leading to inaccurate results, is critical for the application. We expect that the results of the research and proofs of concept we have demonstrated throughout the course of the development project will have direct applications to any business, industry, or institution that relies on PCR technology, and that all such industries will benefit from an improved, better PCR.”
Mark Dearden, VP Strategy and Marketing, LGC, Biosearch Technologies, said, “The addition of the CoPrimer technology to our portfolio demonstrates our commitment to apply innovative technologies that drive workflow efficiencies and enable our customers to achieve more. We believe the CoPrimer technology overcomes many of the traditional shortfalls of multiplex PCR, and are confident our customers will also realize the added flexibility and scalability this technology can bring to their businesses. The technology is highly complementary to our existing oligonucleotide and PCR reagent portfolio, and aligns with our strategy to develop highly innovative, mission critical tools in this space.
“While this Agreement covers the core CoPrimer technology for PCR applications, we are excited about the growing partnership with Co-Diagnostics. LGC is hopeful our expertise in automation, reagents, and oligonucleotides will help expand the applications for the CoPrimer technology, and look forward to future collaborations with Co-Diagnostics.”
Biosearch Technologies, the complete genomics portfolio from LGC, operates from cGMP and ISO 13485:2016 certified production facilities and has been the sole manufacturer of Co-Diagnostics’ CoPrimers since 2013.