LXXGF - LexaGene Places its First Beta Prototype into Massachusetts Veterinary Referral Hospital
BEVERLY, Mass., June 05, 2019 (GLOBE NEWSWIRE) -- 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 that it has placed its first beta prototype into Massachusetts Veterinary Referral Hospital (Mass Vet) in Woburn, MA. Mass Vet is one of 24 hospitals owned and operated by Ethos Veterinary Health.
“This placement marks a very significant milestone for the Company and for the diagnostics industry. We have generated a long list of interested users who want to test our technology. From this list, we selected Mass Vet to be our first site due to their reputation for being pioneers and thought leaders in veterinary medicine. The doctors at Mass Vet are eager to test our cutting-edge technology to provide the best possible treatment for their patients,” said Dr. Jack Regan, CEO and Founder of LexaGene. “Following the placement at Mass Vet, we will continue placing our devices at various other sites throughout the United States as part of our ongoing beta test program. This will enable potential customers to experience the technology in their own facility so that they can compare LX-generated results to their standard testing methods. We are confident these users will quickly appreciate the benefits of our technology and this will help seed future sales.”
The beta LX prototype is expected to identify the presence of bacteria in the overwhelming majority of urinary tract infections. In addition, the beta prototype will simultaneously screen samples for common antibiotic resistance factors providing veterinarians the information they need to select the best treatment for their patients.
“Emergency and critical care veterinarians are eagerly awaiting the commercialization of an accurate instrument that can identify the cause of an infection and whether any antibiotic resistance factors are detected. We are very excited to have the opportunity to first test LexaGene’s technology. It is amazing that their instrument returns results so quickly, as we are used to waiting 3 days to get results back. Shortening the turn-around time for quality results will lead to much better patient care,” said Dr. Chand Khanna DVM, PhD, DACVIM (Onc), DACVP (Hon), Chief Science Officer of Ethos Veterinary Health and President of Ethos Discovery.
A video interview with Dr. Jack Regan regarding this news can be viewed here.
We are pleased to announce that LexaGene will host a webinar tomorrow, Thursday, June 6th at 11 AM EST to provide an overview of the Company. The webinar signup can be accessed at this link.
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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, and press ‘go’. The LX Analyzer delivers excellent sensitivity, specificity, and breadth of detection and can process multiple samples at a time, in an on-demand fashion, returning 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.
About Ethos Veterinary Health
Ethos Veterinary Health 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 ethosvet.com.
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.