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Co-Diagnostics (Co-Dx) has signed a definitive agreement with Arabian Eagle Manufacturing to form a joint venture (JV), CoMira Diagnostics, for the distribution of the polymerase chain reaction (PCR) platform.
The JV will engage in the research, development, sales and commercialization of Co-Dx’s technologies and intellectual property (IP), including the PCR point-of-care platform, in the Kingdom of Saudi Arabia (KSA) and 18 other countries in the Middle East and North Africa (MENA).
The companies plan to seek regulatory approval from the Saudi Food & Drug Administration (SFDA) as a strategic move to facilitate market entry across the territory.
Arabian Eagle, which led the primary distribution of Co-Dx’s Logix Smart tests in the Middle East, will contribute to the joint venture by overseeing the construction of a manufacturing facility, managing regulatory approvals and ensuring compliance with local laws.
Under the JV agreement, Co-Dx will provide the JV with an exclusive license to use, produce and commercialize the licensed intellectual property, which includes the upcoming PCR platform and existing laboratory-based diagnostic products.
Dwight Egan, CEO of Co-Diagnostics, said: “We are pleased to announce this agreement to build our relationship with Arabian Eagle, our valued partners in the Middle East, as we expand the reach of our exciting healthcare innovations into a region with a large and growing market for medical devices and point-of-care diagnostics.”
“The KSA has released key demand drivers that underpin expected growth and we believe our cutting-edge PCR technology, along with CoMira’s scale and mission, addresses these drivers while strengthening our resolve to close the accessibility gap between high-quality PCR diagnostics and those who need them.”
CoMira is preparing to begin clinical evaluations for tuberculosis, multiplex testing for Covid-19, influenza A and B, RSV and an 8-type HPV multiplex test later this year.
The Co-Dx PCR platform, which includes PCR Pro, PCR Home, mobile app and related tests, is not yet available for sale and is awaiting clearance from the U.S. Food and Drug Administration (FDA) and other regulatory authorities.
“Co-Dx Forms JV with Arabian Eagle for PCR Platform Sales” was originally created and published by Medical device networka trademark owned by GlobalData.
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