LexaGene Files Patent Application for Expanded Capabilities of Their LX Analyzer
April 16 2020 - 7:58AM
LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (the
“Company”), a biotechnology company that develops genetic analyzers
for rapid pathogen detection and other molecular markers, announced
today the filing of a provisional patent application to the United
States Patent and Trademark Office to protect the expanded testing
capabilities of their LX Analyzer technology, as it relates to
COVID-19 and other clinical laboratory testing, as well as other
high-throughput applications such as food safety testing.
LexaGene plans to launch its multiplex, PCR-based LX Analyzer as
its flagship product, targeting decentralized testing facilities in
the clinical, veterinary, and food safety markets during Q3 of this
year. The LX Analyzer is fully automated and ideally suited to look
for COVID-19 and other respiratory pathogens in emergency
departments and physician practices to help facilitate their
medical decisions in one hour or less.
To expand its applications, LexaGene is also responding to the
demand for its technology in moderate to high-volume testing
facilities, including centralized reference labs, and large food
producing operations. While the current design of LexaGene’s
analyzer is scalable to meet a wide variety of testing needs, it
does not easily scale to meet the scope of high-volume testers. To
meet this need, LexaGene recently filed a new provisional patent
application covering a novel design of a fully integrated
disposable cartridge that combines high-throughput sample
processing with LexaGene’s distinctive open-access multiplexing
capabilities.
Dr. Jack Regan, LexaGene’s CEO and Founder, states, “Filing this
new patent application is a significant step in expanding the
capabilities of our technology, allowing us to meet the challenges
of the high-throughput sample testing market. Infectious disease
testing is currently in high demand due to the COVID-19 pandemic,
and with this filing, LexaGene is positioning itself to provide
solutions both at point-of-need and at high-throughput reference
laboratories. This new cartridge will allow a tester to process
multiple samples simultaneously and will also allow them to test
for a multitude of genetic targets using disposable components. We
expect the simple workflow, ease of use, and reduced waste offered
by our new technology will facilitate easy adoption to ease the
burden of testing laboratories. Innovation is the cornerstone of
our technology, and this new filing will expand our intellectual
property portfolio to protect new technologies that are under
development.”
About LexaGene Holdings Inc.LexaGene is a
biotechnology company that develops genetic analyzers for pathogen
detection and 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 LX Analyzer delivers excellent sensitivity,
specificity, and breadth of detection and can return results in
about 1 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.
Media Contacts Nicole Ridgedale Director of
Corporate Marketing, LexaGene800.215.1824 ext
206nridgedale@lexagene.com
Investor Relations Jay AdelaarVice President of
Capital Markets, LexaGene800.215.1824 ext
207jadelaar@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.
Lexagene (TSXV:LXG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lexagene (TSXV:LXG)
Historical Stock Chart
From Jul 2023 to Jul 2024