Co-Diagnostics signs exclusive distribution deal for Mexico market

Co-Diagnostics, Inc. (NASDAQ: CODX) entered into an exclusive distribution agreement with its existing partner in Mexico for the Co-Dx PCR point-of-care platform, including the PCR Pro instrument and associated test kits, according to a company statement.

The agreement extends the existing partnership for an additional five years and grants the distributor exclusive rights for the Co-Dx PCR platform in Mexico. The platform remains subject to regulatory review and authorization before market launch.

The Salt Lake City-based molecular diagnostics company has generated over $18 million in revenue through sales of its Logix Smart PCR tests and clinical lab testing equipment since 2020 with this distribution partner. The company's Logix Smart COVID-19 PCR test comprised more than 50% of all COVID-19 tests used across Mexico through 2021, based on publicly available data.

"We are pleased to continue building on our longstanding relationship in Mexico with a distributor that played an important role in the successful deployment of our molecular diagnostics products during the COVID-19 pandemic," said Dwight Egan, Chief Executive Officer of Co-Diagnostics.

The company has expanded its capabilities beyond COVID-19 to include multiple infectious disease applications, including tuberculosis, HPV, mpox, H5N1, and a recently-announced Ebola assay development initiative.

Mexico represents the second largest market in Latin America by population. The Co-Dx PCR platform, including the PCR Home, PCR Pro, mobile app, and all associated tests, is subject to review by the FDA and other regulatory bodies and is not yet available for sale.

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