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LexaGene Receives Signed Quote to Purchase MiQLab System from Leading Biopharmaceutical Company, The Canadian Business Journal

BEVERLY, Mass., Oct. 13, 2022 (GLOBE NEWSWIRE) — LexaGene Holdings, Inc. (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or the “Company”) is an innovative molecular diagnostics company. has commercialized the MiQLab® system for automated genetic testing and is pleased to announce that a major biopharmaceutical company has indicated its intention to purchase the technology.

LexaGene CEO and Founder Jack Regan, Ph.D. We also discussed assisting with validation to reduce timelines for determining whether the MiQLab system meets critical manufacturing testing needs. “

“This second sale to the industry has dramatically increased our optimism for the biopharmaceutical market, where a single manufacturing plant may purchase 25 or more systems. The first sale happened to be to another major international biologics manufacturer, which completed initial validation but was delayed significantly due to staffing issues. , they continue to express enthusiasm for this technology, and expect the next step will be its adoption in manufacturing processes that would likely require a large number of systems to meet testing requirements.”

Contamination testing in the biopharmaceutical sector is estimated to represent an approximately $10 billion market opportunity by 2021, with approximately 350 million tests performed annually.1 Biopharmaceutical companies frequently test for contamination to avoid recalls. Because these events can cost tens of millions of dollars in investigations, cleanups, corrective actions, lost revenue, and manufacturing plant downtime.2,3

The list of possible biopharmaceutical contaminants is long and many require custom culture conditions for optimal growth. Even under optimal growth conditions, some contaminants take up to 28 days to test.Four In contrast, PCR-based tests do not require special culture conditions and can be performed quickly, providing results in hours rather than weeks. The time savings that can be realized using the MiQLab system can have a significant impact by enabling biopharmaceutical manufacturers to quickly identify contaminants before they cause significant losses.

The biopharmaceutical industry is increasingly demanding flexible PCR solutions to handle complex matrices, screen large numbers of targets, and report results quickly. These requirements make LexaGene’s technology an ideal solution. LexaGene’s MiQLab system has already been tested and proven to work well with some of the most popular cell lines and products manufactured in the industry.

For more information about LexaGene and the MiQLab system, visit www.lexagene.com or follow us on Twitter or LinkedIn.

About Lexagene Holdings
LexaGene is a molecular diagnostics company that has commercialized the MiQLab system for the rapid and easy detection of pathogens and other molecular markers. The system is designed for field use and uses real-time PCR chemistry. Our customers include veterinary hospitals and reference laboratories, as well as contract biologics manufacturers. The MiQLab system offers excellent sensitivity, specificity and broad detection range.

TSX Venture Exchange Inc. has never waived the merits of the proposed transaction and has neither approved nor denied the contents of this press release. Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This news release contains forward-looking information that involves known and unknown risks, uncertainties and other factors that could cause actual events to differ materially from current expectations.Important factors such as the availability of funds, the results of financing, the success of technology development, the cost of procuring critical components, equipment performance, market acceptance of the technology, regulatory acceptance, and licensing issues affect the actual Results differ materially from our expectations disclosed in our documents filed with SEDAR from time to time (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements. These statements are made only as of the date of this press release. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

[1] https://www.sec.gov/Archives/edgar/data/1380106/000110465921085783/tm219739-8_s1.htm
[2] https://www.nature.com/articles/s41587-020-0507-2
[3] Liu, S. et al. Development and certification of novel virus removal filters for cell culture applications. biotechnology. Program 16, 425–434 (2000).
[4] https://www.biopharminternational.com/view/usp-mycoplasma-tests-new-regulation-mycoplasma-testing

LexaGene Receives Signed Quote to Purchase MiQLab System from Leading Biopharmaceutical Company, The Canadian Business Journal
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LexaGene Receives Signed Quote to Purchase MiQLab System from Leading Biopharmaceutical Company, The Canadian Business Journal

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