Co-Diagnostics has entered into definitive agreements with Idaho Molecular and Advanced Conceptions in which each of them will become wholly owned subsidiaries of Co-Diagnostics.
Co-Diagnostics said it has been working with Idaho Molecular and Advanced Conceptions on the development of Co-Diagnostics' upcoming at-home diagnostic device, and the transactions will provide Co-Diagnostics with all intellectual property related to the platform.
Co-Diagnostics said, “the acquisition will streamline the commercialization of the Eikon platform and YourTest PCR device,” which the company plans to bring to market in conjunction with a sample-to-result COVID-19 test.
Dwight Egan, CEO of Co-Diagnostics, said, "The infectious disease testing landscape has shifted dramatically in the past 2 years, especially as it relates to COVID-19, and we have long maintained that regular, efficient, affordable PCR tests at the point-of-care and especially in at-home settings is the only way to truly operationalize testing to the extent necessary to allow for a high quality of life in this changed world.”
