NEW YORK – Co-Diagnostics has received $1.2 million from the US National Institutes of Health's Rapid Acceleration of Diagnostics (RADx) Tech program to complete development of the company's upper respiratory panel, the firm announced on Thursday.
The multiplex test for influenza A/B, COVID-19, and respiratory syncytial virus runs on the firm's Co-Dx PCR Home platform. Co-Diagnostics will use the RADx funding to finish the assay's development and prepare for clinical trials, the Salt Lake City, Utah-based company said in a statement.
The Co-Dx platform is undergoing clinical evaluations before submission to the US Food and Drug Administration for regulatory authorization and an initial product launch of a COVID-19 test.
"Our mission to improve the quality of life through making high-quality, affordable diagnostics more available worldwide will be one step closer with the completion of this in-demand respiratory multiplex, which we believe meets the NIH's standards for increased accessibility of next-generation testing as we navigate this post-pandemic landscape," Co-Diagnostics CEO Dwight Egan said in a statement.
Earlier this month, the US Securities and Exchange Commission fined the company $250,000 on allegations that it filed misleading press releases about its COVID-19 tests and failed to disclose transactions involving executives' family members.