Co-Diagnostics Inc. (NASDAQ: CODX) announced that its joint venture CoMira Diagnostics has received approval for an industrial land allocation in Saudi Arabia's Sudair Industrial City following approval by the Saudi Authority for Industrial Cities and Technology Zones.

The site, located in the Riyadh region, is intended to support development of a manufacturing facility for molecular diagnostic instruments and assays. The final lease agreement is expected to be executed upon completion of site infrastructure requirements, according to the company's press release.

CoMira Diagnostics is a joint venture between Co-Diagnostics and Arabian Eagle Manufacturing in the Kingdom of Saudi Arabia. The facility would be designed to meet CoMira's production and regulatory requirements.

"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," said Dwight Egan, CEO of Co-Diagnostics.

Sudair Industrial City is developed and managed by MODON and is part of Saudi Arabia's Vision 2030 strategy to diversify the economy and strengthen local manufacturing capabilities.

Ihssan Rjoob, CEO of CoMira Diagnostics, stated that securing presence in Sudair Industrial City represents a milestone for the joint venture's commitment to localizing molecular diagnostics in Saudi Arabia.

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

Co-Diagnostics is a Utah-based molecular diagnostics company that develops, manufactures and markets diagnostic technologies for tests designed using DNA or RNA analysis.