LexaGene Announces Multi-System Purchase from a Corporate Veterinary Reference Laboratory
April 25 2022 - 8:45AM
LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG)
(“LexaGene” or the “Company”), a molecular diagnostics company that
has commercialized an instrument for automated multiplex PCR
testing, is pleased to announce a corporate veterinary reference
laboratory has purchased 3 MiQLab® Systems for one of their many
locations.
Dr. Jack Regan, LexaGene’s CEO and Founder stated, “Testing in
the veterinary industry is dominated by three corporate companies
that have testing locations across the United States. These
multi-billion dollar corporations compete against each other for
business from veterinary hospitals and clinics that want faster
results than the typical 3 – 5 day wait for culturing bacteria. In
contrast to culture, we are happy to provide the MiQLab System as a
rapid 2-hour solution for determining whether pathogens are present
in a sample and if they harbor drug resistance genes. We are
confident their experience with our technology will be a good one.
Success in this location may result in additional purchases for
their other locations and possibly start a wave of adoption in the
other corporations as well.”
In addition, LexaGene is pleased to announce that it has sold a
MiQLab System to a university veterinary school in Florida to be
used in their veterinary health lab. Dr. Regan went on to say, “We
are pleased to place units into veterinary schools, where students
are being taught the importance of evidence-based decision making
and about the advantages of PCR for rapid pathogen identification.
Having students, who as new graduates have the most risk of
suffering from the consequences of poor antimicrobial stewardship
practices, exposed to the advantages of the MiQLab System early in
their training will pay dividends on future sales.”
He continued, “It is important for us that LexaGene’s name is
associated with best-in-class care. To this end, LexaGene has
become a Garnet Member of the American Animal Hospital
Association’s (AAHA) Strategic Alliance Program. AAHA’s mission and
vision is ‘simplifying the journey towards excellence for
veterinary practices.’ AAHA is the only organization to
accredit companion animal veterinary hospitals. To become AAHA
accredited, practices undergo regular, comprehensive onsite
evaluations by AAHA veterinary experts who evaluate each practice
on more than 900 standards of veterinary care. Today, more than
4,500 practice teams (about 15% of veterinary practices in the
United States and Canada) are AAHA accredited or pre-accredited.
AAHA is very passionate about antimicrobial stewardship, and we
have recently engaged with AAHA for a market research survey – and
found that 60% of the 165 respondents would purchase a technology
that can provide rapid in-clinic testing for many pathogens and
resistance markers. It is our belief that additional
field-validation of our technology, which will be facilitated by
our recent advancements to our sample preparation cartridge, will
provide the data necessary to see an increase in the rate of our
sales.”
To learn more about LexaGene and the MiQLab System or subscribe
to company updates, visit www.lexagene.com, or follow us on Twitter
or LinkedIn.
For inquiries: 800.215.1824 | ir@lexagene.com or
info@lexagene.com
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 two
hours. 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.
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.
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