BEVERLY, Mass., Feb. 04, 2019 (GLOBE NEWSWIRE) — LexaGene Holdings Inc. (OTCQB: LXXGF; TSX-V: LXG) (the “Company”), a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers, announced today that it has started a clinical study to collect data using its LX genetic analyzer technology. The study will include testing urine samples collected from dogs suspected of having a urinary tract infection (UTI).
Dr. Jack Regan, LexaGene’s CEO and Founder states, “This is an exciting time for our company. All of our hard work developing this advanced technology has come to fruition as our pre-clinical work had excellent data quality and I’m very optimistic the clinical trial will show similar results. I look forward to reporting preliminary clinical results in the coming weeks.”
LexaGene is using frozen samples that were collected from dogs suspected of having a UTI. These frozen samples are being provided by Ethos Veterinary Health Group. LexaGene’s scientists are loading thawed samples on to the Company’s automated genetic analyzer for testing. Prior to sending the samples to LexaGene, Ethos shipped duplicate samples to their standard reference laboratory for testing so that LexaGene can compare their generated data to the current method.
The current method takes 2 – 5 days to receive results back from a reference laboratory. This delay directly impacts the quality of care veterinarians can provide. LexaGene aims to solve this problem by providing a technology that can be used in the veterinary hospital or clinic, returning results in just one hour to the caregiver. This technology has the potential to significantly change the manner in which veterinarians have their collected samples tested.
Every year in the United States, an estimated 5.4 million urine tests are performed, with the vast majority of these tests being for UTI. Currently, no automated genetic analyzers are available for veterinarians to use inside veterinary hospitals or clinics that can quickly identify the pathogen(s) that cause UTI.
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About LexaGene Holdings Inc.
LexaGene is a biotechnology company commercializing the very first easy-to-use, fully automated, genetic analyzer that is open-access. The open-access feature empowers end-users to target any genetic sequence of interest, whether of pathogen or human origin. To take advantage of the open-access feature, end-users simply need to load their own real-time PCR assays onto the instrument to customize their tests or run validated assays the company is developing. LexaGene’s analyzers offer excellent sensitivity, specificity, and breadth of pathogen detection while returning results in about 1 hour. The company expects to sell its technology in the food safety and veterinary diagnostics markets, as well as to markets that need easy-to-use customized testing such as biotechnology and pharmaceutical companies, academia, and institutions performing water quality monitoring, aquaculture pathogen surveillance, and others.
Media Contacts
Nicole Ridgedale
Director of Corporate Marketing, LexaGene
800.215.1824 ext 206
[email protected]
Investor Relations
Jay Adelaar
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
[email protected]
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.
