Co-Diagnostics Enters Strategic MOU to Launch Co-Dx™ PCR Platform Across Middle East via Saudi Joint Venture

Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company known for its patented platform for developing molecular diagnostic tests, announced on September 16, 2025, that it has signed a strategic Memorandum of Understanding (MOU) with a regional manufacturing and distribution company based in the Kingdom of Saudi Arabia (KSA). The MOU contemplates the formation of a joint venture (JV) that will be licensed to develop, manufacture, and sell Co-Diagnostics’ intellectual property, including the forthcoming Co-Dx™ PCR point-of-care platform, across the Middle East and North Africa (MENA) region.

Saudi Arabia has historically been one of the largest international markets for Co-Diagnostics’ Logix Smart® tests. The proposed JV’s mission encompasses research, development, manufacturing, assembly, distribution, and commercialization of Co-Diagnostics products. This mission aligns with the strategic objectives outlined in Saudi Arabia’s Vision 2030, a national framework aimed at economic diversification and technological advancement. Co-Diagnostics anticipates that the JV could qualify for applicable government incentives under this initiative.

Under the terms of the MOU, the Saudi partner company will contribute critical local operational support, including access to infrastructure, personnel, and regulatory expertise. These resources are intended to support the JV’s objectives throughout the MENA countries, mirroring Co-Diagnostics’ operational model in India through its Indian joint venture, CoSara Diagnostics Pvt Ltd.

Dwight Egan, CEO of Co-Diagnostics, stated, "We are pleased to announce this Memorandum to formalize the structure, scope and mission of an anticipated joint venture in KSA, which we believe illustrates our dedication to increasing the accessibility of high-quality PCR diagnostics on a global scale. We look forward to the ongoing discussions with the KSA partner as we explore ways to expand our reach across this important region, for both our upcoming Co-Dx PCR platform as well as our existing suite of lab-based PCR diagnostic products."

The Co-Dx PCR platform includes products such as PCR Home™, PCR Pro™, a mobile application, and associated tests. These products are currently subject to review by the U.S. Food and Drug Administration (FDA) and other regulatory bodies and are not yet available for commercial sale.

Co-Diagnostics, Inc., headquartered in Utah, develops, manufactures, and markets advanced molecular diagnostics technologies. Its proprietary platform designs tests that detect and analyze nucleic acid molecules (DNA or RNA). The company also applies its technology to identify genetic markers for applications beyond infectious diseases.

The press release includes forward-looking statements subject to risks and uncertainties, including the negotiation and execution of definitive agreements, regulatory approvals, JV establishment and operation, product acceptance, and changes in government policies. These risks could cause actual outcomes to differ materially from current expectations. Co-Diagnostics disclaims any obligation to update forward-looking statements except as required by law.

This strategic MOU marks a significant step for Co-Diagnostics in expanding its footprint in the MENA region through a localized manufacturing and distribution partnership, potentially accelerating access to innovative PCR diagnostic solutions in alignment with regional health and economic goals.