Co-Diagnostics, Inc. and DNA Logix announced today that they have reached an agreement to form a joint venture, Co-Diagnostics HBDC LLC, to address diagnostic problems for infectious diseases unique to high burden developing countries (HBDC). It is estimated that while HBDC’s have 90% of the burden of disease worldwide, only about 10% of research and development is devoted to them. Co-Diagnostics HBDC will sell testing products and services to these middle- and low-income countries based on proprietary real-time PCR testing technology developed by DNA Logix and licensed to Co-Diagnostics HBDC specifically for that market.
Co-Diagnostics is a leading DNA testing company and recently acquired the suite of DNA testing technologies from DNA Logix to be used in their joint venture. DNA Logix is the first company to use mathematics to create entirely new forms of diagnostic tests, often with multiple-order-of-magnitude improvements in performance. DNA testing, such as real-time PCR, is the current recommended method for rapid and accurate diagnosis of diseases like tuberculosis, which is estimated by the World Health Organization to afflict roughly one-third of the world’s population, with over 95% of cases existing in developing countries. However, the high cost of DNA tests and the equipment necessary to run them prevent their deployment in many countries around the world.
“The business models that are currently used for diagnostic testing in the U.S. are not the most effective business models in other countries. We are excited to create an entity with the tools and focus necessary to solve problems internationally,” said Dwight Egan, President of Co-Diagnostics.
Dr. Brent C. Satterfield, CEO of DNA Logix, added, “There is a lot of unmet need in the world. We are glad that Co-Diagnostics is engaged in this effort, and we believe that innovative testing technologies, combined with forward-thinking business models, will allow us to reach a much larger number of people.”