Sandy, UT-based molecular diagnostics company Co-Diagnostics is partnering to form a joint venture with DNA Logix, a genetic testing firm based in Bountiful, UT, in an effort to address diagnostic problems for infectious diseases unique to high burden developing countries. The Co-Diagnostics-DNA Logix JV will be known as Co-Diagnostics HBDC, the firms said. Financial terms were not disclosed.
Co-Diagnostics and DNA Logix note that while infectious diseases unique to high burden developing countries “have 90% of the burden of disease worldwide, only about 10% of research and development is devoted to them.”
The JV Co-Diagnostics HBDC will market products and services based on real-time PCR testing technology developed by DNA Logix, which has been licensed to Co-Diagnostics HBDC specifically for sale in such countries.
“The business models that are currently used for diagnostic testing in the U.S. are not the most effective business models in other countries,” Co-Diagnostics President Dwight Egan said in a statement. “We are excited to create an entity with the tools and focus necessary to solve problems internationally.”
Added DNA Logix’ Brent Satterfield, Ph.D., CEO: “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.”