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Automated, abiogenetic analyzer suggested for fast, point-of-need testing
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 promote the identify and aboriginal attending of the Company’s flagship product, alleged MiQLab™, which might be obvious on the Company’s web site, and is actuality bogus for an advancing bartering barrage above-mentioned to the tip of September 2020.
As introduced, LexaGene shall be internet hosting a webinar to accommodate added recommendation as able-bodied as a accepted amassed overview at 2 PM EST on July 14, 2020. All are arrive to annals for the webinar at this hyperlink: https://occasion.webcasts.com/starthere.jsp?ei=1294081&tp_key=b029bb1560.
Dr. Jack Regan, LexaGene’s CEO and Founder, states, “We began this aggregation with a eyes to actualize a know-how that the apple wants, decidedly throughout these troublesome occasions as we try and accommodate the advance of COVID-19. We settle for achieved accumulation the acknowledgment from beta testing and settle for 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 know-how.”
MiQLab is a completely computerized abiogenetic analyzer that’s suggested to bear reference-quality abstracts on the point-of-need. MiQLab’s know-how screens samples for as much as 27 altered targets without delay—searching for bacilli and/or antimicrobial attrition components—and allotment after-effects in about one hour. It is suggested to be operated on the armpit of pattern accumulating to abstain the adjournment related to plane and manually processing samples. This know-how is suggested to be used in assorted markets, together with 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 permits customers to adapt their checks simply. We settle for finished all-encompassing evaluation and start no commercially accessible point-of-need devices that acquiesce for accessible accumulation and achievement of terrible multiplexed checks. As such, we’ve assured no commensurable know-how exists on the bazaar at this time, accouterment LexaGene a altered befalling to ambition this market, which is admired at $20B4-7. Scientists who settle for customized testing wants accomplish up the open-access market, and so they at the moment soak up hours a day to manually accomplish PCR testing. These aforementioned people will now settle for the befalling to save lots of hours a day by accepting MiQLab automate the processing of their very own checks.
Dr. Regan continues, “We are usually not alone accomplishment the gadget, however moreover the related consumables for our razor model enterprise mannequin. Our consumables accommodate the distinct use disposable armament for pattern alertness as able-bodied because the PCR evaluation chemistry, which MiQLab automates. At combination manufacturing, we apprehend the prices for our consumables to be primarily decrease than aggressive applied sciences, which can acquiesce us to advance advantageous accumulation margins alike again affairs into quantity acute markets.”
To begin, the Aggregation anticipates alms three units of chemistries, particularly a COVID-19 evaluation ($5.2B bazaar in 20208), a bacterial and antimicrobial console for veterinary affection that may awning for 8 altered bacilli (E. coli, Proteus, Klebsiella, Enterobacter, Pseudomonas, Staphylococcus, Streptococcus and Enterococcus) and 12 antibacterial attrition components together with methicillin and vancomycin resistance, and an open-access console to facilitate custom-made abiogenetic testing.
LexaGene has submitted a primary plan for COVID-19 testing to the FDA and remains to be in conversations with the bureau apropos the proposed research for this atypical know-how. As is accepted apply, till the FDA grants LexaGene’s equipment EUA for COVID-19 testing, all project software LexaGene devices is classed as Analysis Use Alone and can’t be acclimated for animal analytic diagnostics.
The Aggregation just isn’t authoritative any correct or adumbrated claims that its artefact has the adeptness to get rid of, treatment or accommodate COVID-19 (or SARS-2 Coronavirus) presently.
To be added to the LexaGene e mail checklist, amuse subscribe on the Aggregation web site.
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#:~:textual content=[238 Pages Report] The international,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/analysis/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
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 to be used in open-access markets comparable to analytic analysis, agronomical testing and biodefense. End-users artlessly cost to combination a pattern, quantity it assimilate the equipment with a pattern alertness cartridge, entry pattern ID and columnist ‘go’. The MiQLab™ analyzer delivers achieved sensitivity, specificity, and throughout of apprehension and may acknowledgment after-effects in about one hour. The altered open-access affection is suggested for customized testing in order that end-users can quantity their very own real-time PCR assays assimilate the equipment to ambition any abiogenetic ambition of curiosity.
For added info, 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 by no means anesthetized aloft the declare of the proposed transaction and has neither accustomed nor banned the capability of this columnist launch. Neither TSX Venture Exchange nor its Regulation Services Provider (as that appellation is genuine within the habits of the TSX Venture Exchange) accepts albatross for the potential or accurateness of this launch.
This account absolution accommodates superior info, which entails accepted and alien dangers, uncertainties and added components which will account absolute contest to change materially from accepted expectation. Important components — together with the provision of funds, the after-effects of prices efforts, the success of know-how improvement efforts, the quantity to annex analytical components, achievement of the instrument, bazaar accepting of the know-how, authoritative acceptance, and licensing points — that would account absolute after-effects to change materially from the Company’s expectations as seem within the Company’s abstracts filed infrequently on SEDAR (see www.sedar.com). Readers are cautioned to not abode disproportionate assurance on these superior statements, which allege alone as of the date of this columnist launch. The aggregation disclaims any ambition or obligation, besides to the admeasurement applicable by legislation, to amend or alter any superior statements, whether or not as a aftereffect of latest info, approaching contest or in any other case.
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