BEVERLY, Mass., April 16, 2020 (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 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, 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.