Co-Diagnostics, Inc. Appoints New President and Other C-Level Positions

SALT LAKE CITY, April 4, 2024 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dxtm" 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 Hometm, PCR Protm, 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.

SOURCE Co-Diagnostics