Facility in Sudair Industrial City is expected to position CoMira among the early domestic manufacturers of molecular diagnostic testing solutions in Saudi Arabia

SALT LAKE CITY, April 2, 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 CoMira Diagnostics ("CoMira"), the Company's joint venture ("JV") with Arabian Eagle Manufacturing in the Kingdom of Saudi Arabia ("KSA"), has secured an industrial land allocation in Sudair Industrial City located in the Riyadh region, one of Saudi Arabia's leading industrial hubs, following approval by the Saudi Authority for Industrial Cities and Technology Zones ("MODON"). The final lease agreement is expected to be executed upon completion of site infrastructure requirements.

Sudair Industrial City, developed and managed by MODON, plays a central role in the KSA's Vision 2030 strategy to diversify the economy and strengthen local manufacturing capabilities.

"We believe that a manufacturing facility in Sudair Industrial City could play an important role in achieving our JV's mission to localize advanced diagnostic technologies within the KSA, including the Co-Dx PCR platform*, and is expected to support our international expansion objectives across the Middle East and Northern Africa," remarked Dwight Egan, CEO of Co-Diagnostics.

The allocated site is intended to support, subject to further development activities and approvals, the development of a state-of-the-art manufacturing facility dedicated to molecular diagnostic instruments and assays, which would be designed and built to meet CoMira's specific production and regulatory requirements.

The project aligns with Saudi Arabia's increasing emphasis on local content and domestic production, particularly in government procurement programs where in-country manufacturing may be a key differentiator.

Ihssan Rjoob, CEO of CoMira Diagnostics, commented, "Securing our presence in Sudair Industrial City represents a foundational milestone for CoMira. This step reflects our long-term commitment to localizing advanced molecular diagnostics in Saudi Arabia, contributing to the Kingdom's Vision 2030 objectives, and advancing CoMira's mission to establish a fully integrated molecular diagnostics platform in Saudi Arabia."

Mr. Rjoob continued, "Once operational, the facility is expected to position CoMira among the early domestic manufacturers of molecular diagnostic testing solutions, enabling faster access to innovative diagnostics while supporting national healthcare resilience.

"Through this facility, we intend to bring high-quality, scalable diagnostic solutions closer to patients while strengthening regional manufacturing capabilities and supply chain resilience."

*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: (i) the anticipated execution of a final lease agreement for the allocated land in Sudair Industrial City; (ii) the planned development, timing, scope, and operationalization of a manufacturing facility by CoMira Diagnostics; (iii) the ability of such facility to support manufacturing of molecular diagnostic instruments and assays; (iv) expectations regarding CoMira's positioning as an early domestic manufacturer within the Kingdom of Saudi Arabia; (v) the potential benefits of local manufacturing, including participation in government procurement programs and contribution to Saudi Arabia's Vision 2030 objectives; and (vi) the Company's broader international expansion strategy across the Middle East and North Africa. 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 that a definitive lease agreement is not executed on anticipated terms or timelines, or at all; risks associated with satisfying infrastructure requirements and other conditions precedent; risks related to the design, financing, construction, and timely completion of the contemplated manufacturing facility; risks associated with operating through a joint venture, including governance, funding, and partner-related risks; risks related to obtaining and maintaining required regulatory approvals in the Kingdom of Saudi Arabia and other jurisdictions; risks that anticipated benefits of localization and participation in government procurement programs are not realized; uncertainties associated with market acceptance and adoption of the Company's products; 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 31, 2026, 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