LexaGene Announces Multi-System Purchase from a Large Market Leader in Animal Health (LXXGF)
BEVERLY, Mass., May 25, 2022 (GLOBE NEWSWIRE) — LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or the “Company”), a molecular diagnostics company that has commercialized an instrument for automated multiplex PCR testing, is pleased to announce a large veterinary animal health corporation has purchased 2 MiQLab® Systems for two of their locations. Both locations will use the MiQLab Systems for fast evidence-based decision making at the point of care.
The MiQLab System is designed for in-clinic use, requires less than a minute to initiate sample processing, and returns results on the presence of 10 different pathogens and 33 markers for antimicrobial resistance in just 2 hours.
Dr. Jack Regan, LexaGene’s CEO and Founder stated, “A month ago, we announced our first multi-system purchase into one of the three major references laboratories servicing the veterinary industry. Today, we announced our first multi-system purchase into a large veterinary corporation that owns over 100 specialty and emergency pet hospitals and clinics across the United States. We believe that our technology will add sufficient value to their business to justify a more aggressive adoption of the MiQLab System throughout their organization.”
He continued, “When a new business-disrupting technology is introduced to a Company of this size, it often takes many months to present the advantages of the technology to the Company’s key decision making committee. We are encouraged that this market leader has interest in our technology and shares our belief that fast, accurate diagnostic testing at the point of care is critical for animal health and required for better antimicrobial stewardship. This sale further boosts our momentum in veterinary diagnostics.”
To learn more about LexaGene and the MiQLab System or subscribe to company updates, visit www.lexagene.com, or follow us on Twitter or LinkedIn.
About LexaGene Holdings Inc.
LexaGene is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press ‘go’. The MiQLab® system delivers excellent sensitivity, specificity, and breadth of detection and can return results in approximately two hours. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors — including the availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues — that could cause actual results to differ materially from the Company’s expectations as disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.