Expansion into Bangladesh, Pakistan, Nepal, and Sri Lanka increases TAM in region to $13 billion and supports commercialization strategy for the PCR Pro^® and SARAGENE^® product line

SALT LAKE CITY, March 20, 2026 /PRNewswire/ -- Co-Diagnostics, Inc. (NASDAQ:CODX) ("Co-Dx" or "the Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced that the Company has signed an agreement for CoSara Diagnostics Pvt. Ltd. ("CoSara"), the Indian joint venture between Co-Dx and Ambalal Sarabhai Enterprises Limited ("ASE Group"), to significantly expand its commercial and distribution territory across South Asia to now include Bangladesh, Pakistan, Nepal, and Sri Lanka.

The expansion significantly increases CoSara's addressable market across South Asia, bringing the total regional opportunity to an estimated $13.0 billion based on internal analyses and third-party market data. It also supports CoSara's plans to commercialize the CoSara PCR Pro^® point-of-care instrument and tests as well as the SARAGENE^® product line across the region, subject to applicable regulatory approvals in each jurisdiction. As part of this expansion, CoSara is working to establish distribution channels in these newly added markets, including evaluating regulatory pathways, identifying priority customer segments, and engaging regional distribution partners.

Mohal Sarabhai, CEO of CoSara, commented, "South Asia represents a large and rapidly growing market for molecular diagnostics, with significant need for easily accessible, non-invasive, quick and reliable testing solutions. Expanding our territory allows us to begin building relationships with regional partners and positions us to support the future commercialization of the point-of-care PCR platform across these markets, increasing access to molecular tests for tuberculosis, HPV, and upper respiratory infections."

Co-Diagnostics CEO Dwight Egan added, "This expansion reflects our broader strategy of establishing regional infrastructure ahead of product commercialization. By building local manufacturing and distribution capabilities in key regions, including the United States, South Asia, and the Middle East and North Africa, we are positioning Co-Dx to support scalable, global deployment of our PCR point-of-care platform and drive long-term growth."

To support these efforts, CoSara plans to host a virtual distributor information session in Q2 2026, followed by an in-person distributor meeting and training event later this summer. Distributors interested in participating may contact the Company at info@co-dx.com for more information.

*The Co-Dx PCR platform (including the PCR Home^®, PCR Pro^®, 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.

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 (subject to regulatory review and not currently for sale) and to identify genetic markers for use in applications other than infectious disease.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "believes," "expects," "estimates," "intends," "may," "plans," "will," "seeks," "anticipates," and similar expressions, or the negative of these terms. Forward-looking statements in this press release include, but are not limited to, statements regarding: the expected benefits of CoSara's expansion into additional South Asian markets, including the size and potential of the addressable market; plans to establish and develop distribution channels and partnerships in newly added territories; the timing, scope, and success of commercialization efforts for the Co-Dx PCR Pro® instrument, SARAGENE® product line, and related tests; anticipated regulatory pathways, submissions, approvals, and requirements in India and other jurisdictions; the Company's ability to build regional manufacturing and distribution infrastructure; planned distributor engagement activities and their expected outcomes; and the Company's broader strategy for global deployment and adoption of its PCR platform. These forward-looking statements are based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management as of the date of this release. Such statements are subject to a number of risks and uncertainties, including, without limitation: risks related to the Company's ability to obtain necessary regulatory approvals in multiple jurisdictions; uncertainties associated with market acceptance and adoption of the Company's products; the ability to successfully establish and manage distribution relationships; competitive dynamics in the global molecular diagnostics market; execution risks associated with international expansion; and general economic, geopolitical, and public health conditions in the regions in which the Company operates or intends to operate. Actual results may differ materially from those expressed or implied in these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 27, 2025, and in its other filings with the SEC. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.

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SOURCE Co-Diagnostics

Co-Diagnostics Signs Agreement to Significantly Expand Commercial and Distribution Territory Across South Asia