BEVERLY, Mass., Dec. 15, 2020 (GLOBE NEWSWIRE) -- LexaGene Holdings, Inc. , ( TSX-V: LXG ; OTCQB: LXXGF ) (the “ Company ”), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, is pleased to announce it has received a purchase order for a MiQLab™ system from Ethos Discovery.
Dr. Chand Khanna, DVM, PhD, DACVIM (Onc), DACVP (Hon), the President of Ethos Discovery, comments, “We are very excited to purchase a MiQLab system and look forward to using the validated test panel to quickly diagnose infections. In veterinary health, there are many unmet clinical diagnostic needs where LexaGene’s technology can be of great value.” He continues, “In 2021, we will collaborate with LexaGene on expanding the MiQLab’s capabilities to pursue additional diagnostic innovation in areas that are important for Ethos. We are thrilled to have the first point-of-care molecular diagnostic instrument available to veterinary health professionals and look forward to bringing this technology to Ethos hospitals in the future.”
LexaGene’s MiQLab is designed for use inside veterinary hospitals, where it will be run by veterinarians and clinic staff. The automated system is easy to use and is currently equipped with LexaGene’s Bacterial and AMR Panel capable of screening samples for the 7 most common bacterial pathogens and 13 anti-microbial resistance markers. Rapid, in-hospital identification of pathogens and whether they are resistant to common therapies, is extremely useful for veterinarians in making evidence-based patient care decisions. LexaGene’s MiQLab tests samples using real-time PCR, which is widely regarded as a gold-standard chemistry for its sensitivity and specificity.
Dr. Jack Regan, LexaGene’s CEO and Founder, states, “Up until now, veterinarians have had limited options for infectious disease testing. Generally, veterinarians send collected samples to reference laboratories and wait up to 5 days or more to receive the results. This slow turn-around time and delay in proper treatment can be frustrating to many veterinarians and potentially harmful to their patients. With the MiQLab, we are changing veterinary diagnostics. Veterinarians will now have the opportunity to adopt an automated, rapid, in-hospital, reference laboratory quality testing solution so they can deliver world-class care. We are gaining traction by steadily building momentum with MiQLab in the veterinary market and are looking forward to meeting the demand and fulfilling orders in 2021.”
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On Behalf of the Board of Directors
Dr. Jack Regan
Chief Executive Officer & Director
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 one hour. 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.
About Ethos Discovery
Ethos Discovery is a 501(c)3 nonprofit organization devoted to delivering innovations that will improve the outcome for pets and humans afflicted with complex medical problems. Ethos Veterinary Health, LLC formed Ethos Discovery to conduct nonprofit scientific research to advance veterinary and human medical science in December 2016. For more information, visit https://www.ethosdiscovery.org
About Ethos Veterinary Health
Ethos is a veterinary health company with hospitals across the U.S. providing advanced medical care for pets. Our approach includes a focus on transformative science, continuous learning and growth for team members and collaboration. For more information, visit https://www.ethosvet.com
For further information, please contact:
Media Contacts
Nicole Ridgedale
Director of Corporate Marketing, LexaGene
800.215.1824 ext 206
nridgedale@lexagene.com
Investor Relations
Jay Adelaar
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
jadelaar@lexagene.com
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.
