Co-Diagnostics Inc. (NASDAQ: CODX) announced that its joint venture CoMira Diagnostics LLC has finalized a lease agreement for a manufacturing facility in Saudi Arabia's Sudair Industrial City.

The lease covers approximately 14,400 square feet of industrial space designated for manufacturing diagnostic instruments, laboratory testing equipment, and medical consumables. The facility is intended to support manufacturing activities related to Co-Diagnostics' PCR platform and other company technologies, subject to regulatory approvals.

The lease execution follows the joint venture's previously announced approval for industrial land allocation in Sudair Industrial City by the Saudi Authority for Industrial Cities and Technology Zones.

"Executing the lease moves us from planning into the execution phase of development and reflects ongoing progress in localizing our platform within Saudi Arabia," said Dwight Egan, Chief Executive Officer of Co-Diagnostics.

CoMira aims to establish localized manufacturing and distribution capabilities across Saudi Arabia and the broader Middle East and North Africa region. The company stated that the turnkey nature of the facility is expected to support a more efficient transition to operational readiness compared to ground-up development.

Co-Diagnostics noted that domestic production within Saudi Arabia may offer advantages in government procurement processes that prioritize locally manufactured healthcare solutions. The company also indicated that its PCR platform may enter the Saudi market through a streamlined regulatory pathway once U.S. FDA clearances are obtained.

The initiative is part of Co-Diagnostics' strategy to deploy its platform globally through localized partnerships, including its CoSara joint venture in India. The company's PCR platform, including associated tests, remains subject to FDA review and is not yet available for sale.