US-based Co-Diagnostics and DNA Logix have agreed to establish a joint venture, which will be called Co-Diagnostics HBDC, in order to address diagnostic problems for infectious diseases in the high burden developing countries (HBDC).
According to estimates, although HBDC’s have 90% of the burden of disease world over, just about 10% of research and development is devoted to them.
The JV will sell testing products and services to both middle and low-income countries based on real-time PCR testing technology developed by DNA Logix and licensed to Co-Diagnostics HBDC only for these markets.
A leading DNA testing company, Co-Diagnostics recently purchased the suite of DNA testing technologies from DNA Logix, which will be used in the joint venture.
DNA Logix is claimed to be the first firm to use mathematics to create new forms of diagnostic tests, mostly with multiple-order-of-magnitude improvements in performance.
DNA testing, such as real-time PCR, is presently used for rapid and accurate diagnosis of diseases like tuberculosis. However, due to the high cost of these tests and the equipment necessary to run them, in many developing countries the facilities are not available to patients.
Co-Diagnostics president Dwight Egan noted that the business models that are currently used for diagnostic testing in the US are not the most effective business models in other countries.
"We are excited to create an entity with the tools and focus necessary to solve problems internationally," added Egan.
DNA Logix CEO Dr Brent C Satterfield said 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," Satterfield added.