Co-Diagnostics, Synbiotics launch joint venture CoSara Diagnostics in India
Tuesday, July 25, 2017
Co-Diagnostics, a molecular diagnostics company that has a unique, proprietary platform for the development of diagnostic tests, officially announced the recent incorporation of CoSara Diagnostics, a Joint Venture for manufacturing with Synbiotics. Synbiotics is a group company of Asence, a U.S. incorporated company specializing in supplying pharmaceutical products to international markets.
Co-Diagnostics and Synbiotics incorporated the CoSara entity in India in July. Co-Diagnostics paid for its commitment to CoSara from its recent initial public offering. CoSara intends to secure all applicable regulatory approvals necessary for allowing the sale and distribution of CoSara-branded diagnostics throughout India, with a manufacturing facility expected to be under construction in Q3 2017. Once completed, CoSara will have the exclusive Indian manufacturing rights for Co-Diagnostics products.
Dwight Egan, Co-Diagnostics CEO, commented, “India has been a focal point of our growth plan for several years, and partnering with an outstanding organization such as Synbiotics for in-country manufacturing moves us significantly closer to realizing those goals. Because India has an estimated 400 million cases of tuberculosis from which there are 1,000 deaths each day, it is the ideal market for launching a high-quality, affordable test that can not only have a positive impact on the affected population, but also help to build a strong customer base for our other diagnostic products already in the pipeline.”