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Co-Diagnostics to Acquire all Assets and Intellectual Property of Idaho Molecular and Advanced Conceptions.

Document Cited in Related
Vincent

MANews-(C)2009-2021

Utah-based molecular diagnostics company Co-Diagnostics, Inc. (NASDAQ: CODX) has entered into definitive agreements with at-home/point-of-care platform Idaho Molecular Inc. and Advanced Conceptions, Inc., pursuant to which each of them will become wholly owned subsidiaries of Co-Dx, the company said.

Terms of the agreement include issuance of nearly 4.72m shares of the company's stock, including those shares provided as incentives to encourage efficient and timely completion of development and manufacturing milestones, plus additional common warrants totaling 465,000.

Co-Dx has been working with Idaho Molecular and Advanced Conceptions on the development of Co-Diagnostics' upcoming at-home/point-of-care diagnostic device. The transactions will provide the company with all existing and future assets and intellectual property related to the platform.

The company expects that the acquisition will streamline the...

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