LX2 Prototype Model Unveiled at AAVLD

LX2 Prototype Model Unveiled at AAVLD

BEVERLY, Mass., Oct. 22, 2018 (GLOBE NEWSWIRE) — LexaGene Holdings Inc. (OTCQB: LXXGF; TSX-V: LXG) (the “Company”), a biotechnology company that develops instrumentation for pathogen detection, announced today that we successfully unveiled our LX2™ beta prototype design on October 20th, 2018 to an enthusiastic gathering of veterinary professionals at the American Association of Veterinary Laboratory Diagnosticians (AAVLD) conference. Watch it here.

This prototype model moves us closer to delivering a beta instrument that is as close to commercial-ready as possible, and we anticipate high demand for its diagnostic capabilities to address some serious needs across veterinary diagnostics and food safety markets.

The LX2 Advantages:

The LX2 is designed to be a low cost, small-footprint instrument perfectly suited for veterinary clinics as it will take less than a minute to initiate automated sample processing. This breakthrough technology will provide practitioners with the information needed to better treat their patients, while also allowing their practice to assume control over an important incremental revenue stream.

The instrument will be able to return results in just one hour, which is a drastic improvement over currently used culture methods that require shipping samples to laboratories, where results don’t become available for three or more days. LexaGene’s solution for faster and more accurate results will improve health outcomes, lower the overall cost of care, and lead to increased profitability for a practice.

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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 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 multiple samples at a time, in an on-demand fashion, returning results in about 1 hour. The company expects to sell its technology in the veterinary diagnostics market, food safety market, and more.

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.