SALT
LAKE CITY, April 4, 2024 /PRNewswire/ --
Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dx™" or the "Company"), a
molecular diagnostics company with a unique, patented platform for
the development of molecular diagnostic tests, today announced that
last month the Board of Directors appointed Richard Abbott as
President of Co-Diagnostics, Inc., concurrent with the Company
naming David Nielsen to be its Chief
Operations Officer (COO), Christopher
Thurston as its Chief Technology Officer (CTO), and
Seth Egan as Chief Commercialization
Officer (CCO).
- Prior to his new role at the Company, Richard Abbott
(President) served as the President of Advanced Conceptions,
Inc., a wholly-owned subsidiary of Co-Diagnostics since
December 2021, and has been
instrumental in establishing the teams and technology of the Co-Dx
PCR platform*. His experience includes over 25 years in senior
leadership positions of in-vitro diagnostics companies, including
VP of Engineering at BioFire Diagnostics, where he built and led
highly effective cross-functional teams that generated billions of
dollars in revenue. Mr. Abbott holds a Master of Science degree
from Brigham Young University and an
M.B.A from the Wharton Business School. In his new role, Mr. Abbott
will play a key role in the development and commercialization of
the Co-Dx PCR platform and associated tests.
- David Nielsen
(COO) previously held the role of COO for Idaho Molecular,
also acquired by Co-Dx in 2021, and has worked in concert with
Advanced Conceptions and Co-Dx to help guide the development of the
Company's new platform since that time. Including his time at Idaho
Molecular, Mr. Nielsen has over 25 years of R&D technical and
leadership experience, primarily at BioFire and BioFire Defense,
filling various key roles which also included managing and
coordinating the FilmArray diagnostic system throughout development
and launch as the VP of Product Development. David earned both a
Master of Science and M.B.A. from the University of Utah. As COO, David will leverage his
experience to help lead Co-Dx's product development and
manufacturing processes.
- Christopher Thurston's (CTO)
distinguished career has included decades of experience serving as
senior developer and architect of software platforms for companies
including Ernst and Young, BioFire Defense, and BioMerieux,
demonstrating his expertise in big-data solutions. Following his
experience in executive positions at several startups, Christopher
co-invented the Co-Dx PCR platform at Idaho Molecular, pursuing his
passion for democratizing access to PCR diagnostics though
technological innovation. Mr. Thurston's technology expertise will
be significant in the advancement of Co-Dx's platform and
tests.
- Seth Egan (CCO) has been with Co-Dx since its
inception, leading the Company's sales, marketing and product
commercialization efforts from the beginning, including managing
the sales team as it sold approximately 35M Logix Smart® tests to centralized
laboratories in more than 50 countries since the beginning of the
pandemic. Mr. Egan has operated in many key capacities for the
Company and continues to play an important role helping to oversee
the relationship with CoSara Diagnostics, the Co-Dx joint venture
in India. He holds a Bachelor of
Science in Business Communications from Utah Valley University. Mr.
Egan will play a crucial role as CCO in driving the Co-Dx PCR
platform's commercialization efforts.
Dwight Egan, Company CEO,
remarked "I am enthused to have the honor of leading the team at
Co-Dx with support from these accomplished individuals, whose
background and experience are expected to be crucial additions to
the management team as we proceed through our next stage of growth.
We welcome them in their new roles as the world continues its shift
towards a more decentralized approach to diagnostics.
Co-Dx intends to help fill the equitable diagnostics access gap,
which we believe can be made possible thanks to the efforts of
people who share our corporate mission and possess the skills to
make that vision a reality."
*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/or other regulatory bodies and is not yet available for
sale. The Co-Dx PCR Pro instrument and Co-Dx COVID-19 Test are
currently under review by the FDA.
About Co-Diagnostics, Inc.:
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 that are designed using the
detection and/or analysis of nucleic acid molecules (DNA or RNA).
The Company also uses its proprietary technology to design specific
tests for its Co-Dx PCR at-home and point-of-care platform and to
locate genetic markers for use in applications other than
infectious disease.
Forward-Looking Statements:
This press release
contains forward-looking statements. Forward-looking statements can
be identified by words such as "believes," "expects," "estimates,"
"intends," "may," "plans," "will" and similar expressions, or the
negative of these words. Forward-looking statements include
statements made with respect to our Co-Dx PCR platform. Such
forward-looking statements are based on facts and conditions as
they exist at the time such statements are made and predictions as
to future facts and conditions. Forward-looking statements are
subject to inherent uncertainties, risks and changes in
circumstances. Actual results may differ materially from those
contemplated or anticipated by such forward-looking statements.
Readers of this press release are cautioned not to place undue
reliance on any forward-looking statements. There can be no
assurance that any of the anticipated results will occur on a
timely basis or at all due to certain risks and uncertainties, a
discussion of which can be found in our Risk Factors disclosure in
our Annual Report on Form 10-K, filed with the Securities and
Exchange Commission (SEC) on March 14,
2024, and in our other filings with the SEC. The Company
does not undertake any obligation to update any forward-looking
statement relating to matters discussed in this press release,
except as may be required by applicable securities laws.
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SOURCE Co-Diagnostics