BEVERLY, Mass., Oct. 22, 2018 (GLOBE NEWSWIRE) -- LexaGene Holdings Inc. (OTCQB: LXXGF; TSX-V: LXG) (the “Company”), a biotechnology company that
develops instrumentation for pathogen detection, announced today that we successfully unveiled our LX2™ beta prototype design on
October 20th, 2018 to an enthusiastic gathering of veterinary professionals at the American Association of
Veterinary Laboratory Diagnosticians (AAVLD) conference. Watch it here.
This prototype model moves us closer to delivering a beta instrument that is as close to commercial-ready as possible, and we
anticipate high demand for its diagnostic capabilities to address some serious needs across veterinary diagnostics and food safety
markets.
The LX2 Advantages:
The LX2 is designed to be a low cost, small-footprint instrument perfectly suited for veterinary clinics as it will take less
than a minute to initiate automated sample processing. This breakthrough technology will provide practitioners with the information
needed to better treat their patients, while also allowing their practice to assume control over an important incremental revenue
stream.
The instrument will be able to return results in just one hour, which is a drastic improvement over currently used culture
methods that require shipping samples to laboratories, where results don’t become available for three or more days. LexaGene’s
solution for faster and more accurate results will improve health outcomes, lower the overall cost of care, and lead to increased
profitability for a practice.
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About LexaGene Holdings Inc.
LexaGene is a biotechnology company developing the very first fully automated pathogen detection platform that is
open-access. The open-access feature will empower end-users to target any pathogen of interest, as they can load their own
real-time PCR assays onto the instrument for customized pathogen detection. End-users simply need to collect a sample, load it onto
the instrument with a sample preparation cartridge, and press ‘go’. The instrument is expected to offer excellent sensitivity,
specificity, and breadth of pathogen detection. The instrument will be able to process multiple samples at a time, in an on-demand
fashion, returning results in about 1 hour. The company expects to sell its technology in the veterinary diagnostics market, food
safety market, and more.
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.
Media Contacts
Caitlin Kasunich / Amy Singh
KCSA Strategic Communications
212.896.1241 / 212.896.1207
ckasunich@kcsa.com/ asingh@kcsa.com
Investor Relations
Jay Adelaar
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
jadelaar@lexagene.com
