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LexaGene Closes Multiple MiQLab Sales

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  • LXXGF

BEVERLY, Mass., Dec. 03, 2021 (GLOBE NEWSWIRE) -- LexaGene Holdings, Inc., (TSX-V: LXG; OTCQB: LXXGF) (the “Company”), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, is pleased to announce two purchase orders from Kuma Veterinary Clinic and the Emergency Veterinary Services of Roanoke.

Dr. Jack Regan, LexaGene’s Founder and CEO commented, “I’m pleased to announce that we have closed additional MiQLab System sales to private hospitals. Veterinarians are learning more about our system and recognizing how wrong it is to have to wait days to weeks for a reference lab to provide infectious disease results that can impact the well-being of their patients. Our MiQLab System provides them a solution to this problem, as it delivers high-quality results at the point of need in just ~2 hours. This time savings empowers them to make evidence-based decisions to improve the quality of the care they provide.”

Gwyneth Shugart, CVT and co-owner of Kuma Veterinary Clinic commented, “We purchased the MiQLab system to offer better services to our clients and the pets they love. Too often, slow diagnostics have prevented us from more rapidly improving our patients’ health, which has led to frustration, unnecessary pain and suffering, and higher costs. It is truly exciting to have this new diagnostic in our hospital, as we put the days of practicing medicine based on empiric diagnosis behind us.”

Julie Griggs, CVT, LexaGene’s Global Director of Sales stated, “The vast majority of specialty and 24-hour emergency veterinary hospitals are no longer private and are consolidated or owned by large corporations. Over the last two months we’ve made good progress in the sales cycle for large corporations, where we target multi-unit sales. We expect the corporate sales will start a wave of adoption across the industry as veterinary practices will not want to be left behind and will seek to modernize their technology to keep up with the expectations of their clients and new industry standards.”

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.

On Behalf of the Board of Directors
Dr. Jack Regan
Chief Executive Officer & Chairman

About LexaGene Holdings Inc.
LexaGene 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.

CONTACT: Corporate & Media Contact: Gail Winslow Director, Marketing gwinslow@lexagene.com 978.482.6237 Investors: ir@lexagene.com 800.215.1824


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