BEVERLY, Mass., Oct. 13, 2022 (GLOBE NEWSWIRE) — LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or the “Company”), an modern, molecular diagnostics firm that has commercialized the MiQLab® System for automated, genetic testing, is happy to announce that it has obtained a sign {that a} main biopharma firm intends to buy its know-how.
Dr. Jack Regan, LexaGene’s CEO and Founder said, “We are excited to report a major international biopharma manufacturer has provided us a signed quote for the purchase of a MiQLab System. We’ve also discussed assisting them in their validation to speed up the timeline for determining whether the MiQLab System will meet their significant manufacturing testing needs.”
He continued, “This second sale into this industry has dramatically boosted our optimism for the biopharma market, where a single manufacturing plant would potentially purchase 25 or more systems. Our very first sale happened to be to another major international biologic manufacturer. This company completed their initial validation, which was significantly drawn out due to staffing issues. Nonetheless, they have continued to express enthusiasm for the technology, and we remain hopeful that adoption into their manufacturing process is the next step, where presumably numerous systems would be needed to meet their testing requirements.”
Contamination testing within the biopharmaceutical area was estimated to be a ~$10B market alternative in 2021 with roughly 350 million exams run yearly.1 Biopharmaceutical firms ceaselessly take a look at for contamination to keep away from having a recall, as these occasions can value tens of hundreds of thousands of {dollars} in investigation, cleanup, corrective actions, misplaced income, and manufacturing plant downtime.2,3
The listing of potential biopharma contaminants is lengthy, with many requiring customized tradition situations for optimum development. Even underneath optimum development situations, some contaminants take as much as 28 days for testing.4 In distinction, PCR-based testing doesn’t require specialised tradition situations and may be carried out instantly – offering leads to hours reasonably than weeks. The time financial savings that may be realized, utilizing the MiQLab System, can have large implications for biopharmaceutical producers by permitting them to rapidly establish contaminants earlier than the contamination leads to large losses.
The biopharma trade is more and more searching for versatile PCR options to deal with complicated matrices, display screen for quite a few targets, and report outcomes rapidly. These necessities make LexaGene’s know-how a great answer. LexaGene’s MiQLab System has already been examined and confirmed to work nicely on among the commonest cell strains and merchandise manufactured within the trade.
For extra details about LexaGene and the MiQLab System, please go to www.lexagene.com or observe us on Twitter or LinkedIn.
About LexaGene Holdings Inc.
LexaGene is a molecular diagnostics firm that has commercialized the MiQLab System for quick and straightforward detection of pathogens and different molecular markers. The System is designed for on-site utilization and makes use of real-time PCR chemistry. Our prospects embrace veterinary hospitals and reference laboratories – in addition to contract biologic producers. The MiQLab System delivers glorious sensitivity, specificity, and breadth of detection.
The TSX Venture Exchange Inc. has on no account handed upon the deserves of the proposed transaction and has neither authorized nor disapproved the contents of this press launch. Neither TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this launch.
This information launch comprises forward-looking data, which includes identified and unknown dangers, uncertainties and different elements that will trigger precise occasions to vary materially from present expectation. Important elements — together with the supply of funds, the outcomes of financing efforts, the success of know-how growth efforts, the fee to obtain important elements, efficiency of the instrument, market acceptance of the know-how, regulatory acceptance, and licensing points — that might trigger precise outcomes to vary materially from the Company’s expectations as disclosed within the Company’s paperwork filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The firm disclaims any intention or obligation, besides to the extent required by regulation, to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case.
[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 qualification of a novel virus removing filter for cell tradition purposes. Biotechnol. Prog. 16, 425–434 (2000).
[4] https://www.biopharminternational.com/view/usp-mycoplasma-tests-new-regulation-mycoplasma-testing
