VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE NEWSWIRE) — LexaGene Holdings Inc. (OTCQB:LXXGF) (TSX-V:LXG) (the “Company”), a biotechnology company that develops instrumentation for pathogen detection, today announced that the Company has significantly expanded its operations in Massachusetts. LexaGene recently signed a lease for a 17,500-square-foot space, located at 500 Cummings Center, Suite 4550, in Beverly.
“As LexaGene started ramping up our operations in December to meet our 2018 goals, we have leased a larger space to grow into which will support our R&D and manufacturing efforts moving forward,” said Dr. Jack Regan, LexaGene’s CEO. “Additionally, over the last several weeks, we’ve made six key new hires and plan to bring an additional 20 more new employees on board in the coming weeks in anticipation of this growth. The Beverly location is also particularly ideal for us since it allows us to tap into the very talented pool of engineers and scientists in the Boston area.”
The Company is installing a state-of-the-art, level-two biosafety laboratory into the space. This will allow LexaGene to adhere to biocontainment precautions, specified by the CDC, while testing for dangerous pathogens, such as E. coli and Staphylococcus.
Dr. Regan further stated, “2018 is going to be a very important year for the company as we bring the LX6 pathogen detection system online and move the machine towards commercialization.”
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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.
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.