LexaGene’s Technology Identifies Genetic Mutations Directly from Cheek Swabs
LX Technology widely applicable to multi-billion-dollar testing markets
BEVERLY, Mass. – Apr. 24, 2019 – LexaGene Holdings Inc. (OTCQB: LXXGF; TSX-V: LXG) (the “Company”), a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers, announced today.
LexaGene recently announced completed studies using its LX technology for detecting urinary tract infections in dogs and detecting pathogenic E. coli from romaine lettuce; and now, has demonstrated the ability for the same technology to be used for personal genotyping, which has a market value of greater than $6 B.1
The applications for genotyping (i.e. understanding genetic sequences in areas of scientific/clinical importance) are vast, including research focused on cancer and neurological diseases, as well as pharmacogenomic testing to determine a person’s genetic response to medication.
Dr. Walsh, LexaGene’s VP of Application states, “My team’s primary focus is developing tests for veterinary diagnostics and food safety. That said, a unique and distinguishing feature of our technology is that it can easily be modified by even non-technical operators using already developed tests to analyze other genetic targets. After recently processing romaine lettuce samples for E. coli, we swapped the E. coli tests for human mutation tests and immediately started running cheek swab samples. Converting the instrument to run these new tests was extremely easy – demonstrating how anyone can customize the LX technology to meet their genetic screening needs.”
LexaGene’s LX Analyzer confirmed single-point gene mutations at locations within the AKT1and COMT genes in 100% concordance with sequences generated by Human Genome Project. In addition, the LX Analyzer was used to process cheek swab samples and the generated data was found to be clear and conclusive for the targeted gene sequences.
Many markets have a need for customized, yet automated, PCR testing, including the pharmaceutical industry, biotechnology industry, and academic labs to name a few. Collectively, these markets, which the Company describes as ‘open-access markets’, are soon to be valued at over $5.3 B.2 The laboratories in these markets are currently relying on skilled molecular biologists to manually perform these customized PCR tests. However, many lab managers would prefer these tests to be run on an easy-to-use automated genetic analyzer, which has motivated LexaGene to commercialize its open-access LX technology for these markets.
Dr. Jack Regan, LexaGene’s CEO and Founder concludes, “The ability and ease with which our technology can be used in markets aside from veterinary diagnostics and food safety is often underappreciated. Many of these markets have no regulatory hurdles, which in time will allow us to start selling our technology into a diverse set of laboratories. When we begin selling our commercial units, open-access sales will complement our veterinary diagnostics and food safety revenues nicely.”
A detailed overview of the cheek swab genotyping study is available on the Company website here.
To be added to the LexaGene email distribution list, please subscribe on the Company website here.
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.
Director of Corporate Marketing, LexaGene
800.215.1824 ext 206
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
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.