BEVERLY, Mass. – September 30, 2021 – LexaGene Holdings, Inc. (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or “the Company”), a commercial molecular diagnostics company selling a point-of-need, highly multiplexed in-clinic PCR system with results in approximately two hours, today provided an update on the three veterinary conferences attended by the Company in September.
During the month of September, the Company exhibited at the WVC Annual Conference, the International Veterinary Emergency and Critical Care Conference (IVECCS), and the Southwest Veterinary Symposium (SWVS).
Dr. Jack Regan, LexaGene’s CEO and Founder stated, “At these shows, we believe that we had one of the busiest booths due to the uniqueness of our technology. We are happy to report that during these shows and through our digital marketing campaign, we have generated more than 750 leads during the month of September and have added to our number of sales. The sheer number of booth visitors and the excitement they showed over our technology has hardened our stance that in-clinic PCR testing will soon become common place in veterinary medicine. These shows marked the first time LexaGene demonstrated – in person – the usability and features of our MiQLab® System. Universally, visitors showed excitement over the availability of our system that automates PCR testing for pathogen identification and anti-microbial resistance detection.”
Dr. Regan continued, “Visitors at our booths included practice managers, veterinarians, veterinary technicians, and corporate decision makers. Our sales reps are actively following up with these individuals and are optimistic about closing many additional sales from these conferences. As most visitors first learned of LexaGene and our product at these shows, we need to allow sufficient time for closing the many opportunities that these shows provided us.”
During these last two weeks, Dr. Jack Regan and Mr. Jeffrey Mitchell, LexaGene’s CFO, were able to have conversations with personnel at some of the biggest veterinary health companies, who expressed interest in the MiQLab. The sales cycle for corporate accounts, where substantial multi-unit orders is possible, is significantly longer than at private practices, as there are often large purchasing committees rather than one or just a few decision makers. We heard from some of these corporate individuals that fighting antimicrobial resistance via better diagnostics is a priority for their hospitals. To our knowledge, we were the only company at these tradeshows selling a product capable of both multi-pathogen detection and screening for numerous first line antimicrobial resistance factors at the point of care. These attributes made us stand out as a new and exciting company offering a revolutionary technology for the veterinary space.
Mr. Jeffrey Mitchell, LexaGene’s CFO stated, “These conferences have re-affirmed our belief that there is strong demand for this technology, and we believe we can become a market leader for in-clinic infectious disease testing. We feel great about the excitement veterinarians showed for our technology and we can leverage this enthusiasm as we focus on closing sales.”
- To view Dr. Regan’s comments on these conferences, please click HERE.
- To view Dr. Regan’s presentation at WVC, click HERE.
- To view Dr. Nair’s presentation at SWVS, click HERE.
- To view Dr. Eric DiBasio’s poster presented at IVECCS, click HERE.
On Behalf of the Board of Directors
Dr. Jack Regan
Chief Executive Officer & Chairman
Director of Corporate Marketing
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 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.