LexaGene Engages Contract Manufacturer to Support Product Launch
BEVERLY, Mass., Aug. 17, 2020 – 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 it has engaged LaunchWorks to support the commercial launch of MiQLab™ prior to the end of September 2020.
Launchworks is an FDA registered, ISO 13485 certified, cGMP compliant contract manufacturer specializing in manufacturing consumables for life science companies. Launchworks will manufacture the assay panels and buffer sets used in LexaGene’s fully automated MiQLab system, which will provide rapid test results inside clinics and hospitals to help eliminate the current wait times of one to several days for reference laboratory generated test results.
Dr. Jack Regan, LexaGene’s CEO and Founder, states, “We are making great progress in adding sales and manufacturing to LexaGene’s capabilities. I’m very pleased to announce our partnership with LaunchWorks, which will be responsible for manufacturing the consumables required to operate MiQLab. Launchworks can currently manufacture enough products to easily support our commercial launch and have the facilities to scale their production to meet any demands that we require. I am very impressed by their facilities, high caliber staff, and their ability to scale their operations to meet our needs as we grow.”
Daryl Rebeck, LexaGene’s President and Co-Founder, adds, “This is an extremely exciting time for LexaGene. Our initial hires in sales are working out exceedingly well and we are in the home stretch for manufacturing and qualification. By the end of next month, we expect to begin selling and fulfilling delivery of our first units, which will be a huge milestone for the Company.”
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On Behalf of the Board of Directors
Dr. Jack Regan
Chief Executive Officer & Director
About LexaGene Holdings Inc.
LexaGene is a molecular diagnostics company that 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 one 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.
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.