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Automated, abiogenetic analyzer advised for rapid, point-of-need testing

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BEVERLY, Mass., July 13, 2020 (GLOBE NEWSWIRE) — LexaGene Holdings, Inc., (TSX-V: LXG; OTCQB: LXXGF) (the “Company”), a atomic affection aggregation that develops abiogenetic analyzers for accelerated antibody detection, is admiring to advertise the name and aboriginal attending of the Company’s flagship product, alleged MiQLab™, which can be apparent on the Company’s website, and is actuality bogus for an advancing bartering barrage above-mentioned to the end of September 2020.

As announced, LexaGene will be hosting a webinar to accommodate added advice as able-bodied as a accepted accumulated overview at 2 PM EST on July 14, 2020.  All are arrive to annals for the webinar at this link: https://event.webcasts.com/starthere.jsp?ei=1294081&tp_key=b029bb1560.

Dr. Jack Regan, LexaGene’s CEO and Founder, states, “We started this aggregation with a eyes to actualize a technology that the apple needs, decidedly during these difficult times as we attempt to accommodate the advance of COVID-19. We accept accomplished accumulation the acknowledgment from beta testing and accept amorphous accomplishment our bartering instrument, the MiQLab abiogenetic analyzer. It is acutely acceptable to be so abutting to the alpha of affairs this much-needed technology.” 

MiQLab is a absolutely automatic abiogenetic analyzer that is advised to bear reference-quality abstracts at the point-of-need. MiQLab’s technology screens samples for up to 27 altered targets at once—looking for bacilli and/or antimicrobial attrition factors—and allotment after-effects in about one hour. It is advised to be operated at the armpit of sample accumulating to abstain the adjournment associated with aircraft and manually processing samples. This technology is advised for use in assorted markets, including animal and veterinary diagnostics, as able-bodied as aliment assurance testing ($12.9B1, $2.2B2, and $23.4B3 markets, respectively).

MiQLab is open-access, which allows users to adapt their tests easily. We accept done all-encompassing analysis and begin no commercially accessible point-of-need instruments that acquiesce for accessible accumulation and achievement of awful multiplexed tests. As such, we’ve assured no commensurable technology exists on the bazaar today, accouterment LexaGene a altered befalling to ambition this market, which is admired at $20B4-7. Scientists who accept custom testing needs accomplish up the open-access market, and they currently absorb hours a day to manually accomplish PCR testing. These aforementioned individuals will now accept the befalling to save hours a day by accepting MiQLab automate the processing of their own tests.  

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Dr. Regan continues, “We are not alone accomplishment the device, but additionally the associated consumables for our razor brand business model. Our consumables accommodate the distinct use disposable armament for sample alertness as able-bodied as the PCR analysis chemistry, which MiQLab automates. At aggregate manufacturing, we apprehend the costs for our consumables to be essentially lower than aggressive technologies, which will acquiesce us to advance advantageous accumulation margins alike back affairs into amount acute markets.”

To start, the Aggregation anticipates alms three sets of chemistries, namely a COVID-19 analysis ($5.2B bazaar in 20208), a bacterial and antimicrobial console for veterinary affection that will awning for 8 altered bacilli (E. coli, Proteus, Klebsiella, Enterobacter, Pseudomonas, Staphylococcus, Streptococcus and Enterococcus) and 12 antibacterial attrition factors including methicillin and vancomycin resistance, and an open-access console to facilitate customized abiogenetic testing.

LexaGene has submitted a basic plan for COVID-19 testing to the FDA and is still in conversations with the bureau apropos the proposed studies for this atypical technology. As is accepted practice, until the FDA grants LexaGene’s apparatus EUA for COVID-19 testing, all assignment application LexaGene instruments is classified as Analysis Use Alone and cannot be acclimated for animal analytic diagnostics.

The Aggregation is not authoritative any accurate or adumbrated claims that its artefact has the adeptness to eliminate, cure or accommodate COVID-19 (or SARS-2 Coronavirus) at this time.

To be added to the LexaGene email list, amuse subscribe on the Aggregation website.

1 https://www.globenewswire.com/news-release/2019/07/16/1883243/0/en/Infectious-Disease-Diagnostics-Market-Worth-12-88-Billion-by-2025-Exclusive-Report-by-Meticulous-Research.html2 https://www.marketsandmarkets.com/Market-Reports/veterinary-infectious-disease-diagnostic-market-221816584.html#:~:text=[238 Pages Report] The global,8.4% from 2019 to 2024.3 https://www.bccresearch.com/market-research/food-and-beverage/food-safety-testing-technologies-markets-report.html4 https://www.prnewswire.com/news-releases/the-global-real-time-pcr-and-digital-pcr-market-size-is-anticipated-to-reach-usd-4-33-billion-by-2026–300880167.html5 https://www.marketsandmarkets.com/Market-Reports/genotyping-market-249958595.html6 https://www.researchandmarkets.com/research/l7j8hj/microbiological7 https://www.prnewswire.com/news-releases/2018-agricultural-testing-global-market-report-forecast-to-2022—market-to-reach-6-29-billion-300628855.html8 https://www.grandviewresearch.com/industry-analysis/covid-19-diagnostics-market

Story continues

On Behalf of the Board of DirectorsDr. Jack ReganChief Executive Officer & Director

About LexaGene Holdings Inc. LexaGene is a atomic affection aggregation that develops abiogenetic analyzers for antibody apprehension and added atomic markers for on-site accelerated testing in veterinary diagnostics, aliment assurance and for use in open-access markets such as analytic research, agronomical testing and biodefense. End-users artlessly charge to aggregate a sample, amount it assimilate the apparatus with a sample alertness cartridge, access sample ID and columnist ‘go’. The MiQLab™ analyzer delivers accomplished sensitivity, specificity, and across of apprehension and can acknowledgment after-effects in about one hour. The altered open-access affection is advised for custom testing so that end-users can amount their own real-time PCR assays assimilate the apparatus to ambition any abiogenetic ambition of interest.

For added information, amuse contact:

Media Contacts Nicole RidgedaleDirector of Accumulated Marketing, LexaGene800.215.1824 ext [email protected]

Investor Relations Jay AdelaarVice President of Capital Markets, LexaGene800.215.1824 ext [email protected]

The TSX Venture Exchange Inc. has in no way anesthetized aloft the claim of the proposed transaction and has neither accustomed nor banned the capacity of this columnist release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.

This account absolution contains advanced information, which involves accepted and alien risks, uncertainties and added factors that may account absolute contest to alter materially from accepted expectation. Important factors — including the availability of funds, the after-effects of costs efforts, the success of technology development efforts, the amount to annex analytical parts, achievement of the instrument, bazaar accepting of the technology, authoritative acceptance, and licensing issues — that could account absolute after-effects to alter materially from the Company’s expectations as appear in the Company’s abstracts filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to abode disproportionate assurance on these advanced statements, which allege alone as of the date of this columnist release. The aggregation disclaims any ambition or obligation, except to the admeasurement appropriate by law, to amend or alter any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.

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