LexaGene Announces Collaboration with Ethos Veterinary Health
BEVERLY, Mass., April 4, 2018 – LexaGene Holdings Inc. (OTCQB: LXXGF; TSX-V: LXG) (the “Company”), a biotechnology company that develops instrumentation for pathogen detection, announced today that it has entered into collaboration with Ethos Veterinary Health, a veterinary health company with hospitals across the U.S. that provide advanced medical care for pets. This partnership will provide canine urine samples to LexaGene for testing on the Company’s LX6 prototype for more effective, rapid and on-site pathogen detection. The samples have been previously characterized using conventional technologies (MALDI-TOF / mass spectrometry) at its reference laboratory.
“In the coming weeks, veterinarians at Ethos will send LexaGene clinical annotated samples for processing, which will allow our team to continue to fine-tune and perfect our pathogen detection prototype’s testing capabilities,” said Dr. Jack Regan, LexaGene CEO. “This process is vital as we improve sensitivity to different isolates. We expect this to be a long-lasting collaboration as we work together to bring the best product possible to the veterinary market.”
“We’ve recently performed a market assessment for LexaGene’s technology by interviewing many emergency and critical care veterinarians, and – coupled with an internal financial assessment of the cost of conventional testing versus LexaGene’s projected testing costs – the results argue strongly for adopting LexaGene’s technology once available,” added Dr. Chand Khanna, Chief Science Officer, Ethos Veterinary Health. “We look forward to providing samples to LexaGene so that we can help them bring this product to market quickly and efficiently, ultimately enabling veterinarians to provide better care for clients in the near future.”
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About LexaGene Holdings Inc.
LexaGene is a biotechnology company developing the very first fully automated pathogen detection platform that is open-access, the LX6. The open-access feature will empower end-users to target any pathogen of interest, as they can load their own real-time PCR assays onto the instrument for customized pathogen detection. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, and press ‘go’. The instrument is expected to offer excellent sensitivity, specificity, and breadth of pathogen detection. The instrument will be able to process six samples at a time, in an on-demand fashion, returning results in about 1 hour. The company expects to sell its technology in the food safety, veterinary diagnostics, water quality monitoring, and aquaculture pathogen surveillance markets.
About Ethos Veterinary Health
Ethos 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.
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.