LexaGene - CEO, Dr. Jack Regan.
CEO, Dr. Jack Regan.
Source: LexaGene Holdings Inc.
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  • LexaGene has initiated a program that uses the rapid configurability of the MiQLab system to investigate novel variants of SARS-CoV-2, the pathogen that causes COVID-19
  • SARS-CoV-2 is a pathogen that mutates quickly and new variants were recently identified in the United Kingdom and South Africa
  • LexaGene is pursuing FDA Emergency Use Authorization for COVID-19 testing using assays that are predicted to detect greater than 99.9 percent of the strains circulating today
  • LexaGene’s MiQLab can be easily configured to run tests for both coronavirus detection and strain identification as it is capable of screening for up to 27 genetic targets at once
  • LexaGene is up 4.39 per cent to C$1.19 per share

LexaGene (LXG) has initiated a program that uses the rapid configurability of the MiQLab system to investigate novel COVID-19 variants.

LexaGene is a molecular diagnostics company that develops fully automated rapid pathogen detection systems.

SARS-CoV-2 is a pathogen that mutates quickly and new variants were recently identified in the United Kingdom and South Africa. Both new strains appear to be more contagious, therefore making containment more challenging.

LexaGene’s CEO and Founder Dr. Jack Regan said it’s hard to estimate the impact of a new variant that can re-infect those who have already been infected or vaccinated.

“It is critical that we have the capability to not only detect whether the patient is COVID-19 positive, but also whether they are, in fact, infected with a new variant. We need to be able to more quickly and accurately identify new strains at the point-of-care, as this potentially could have helped better contain SARS-CoV-2 at the start of the outbreak,” Regan said.

LexaGene is pursuing FDA Emergency Use Authorization for COVID-19 testing using assays that are predicted to detect greater than 99.9 percent of the strains circulating today based on published sequences, including the UK and South African variants.

Given the suspected higher rate of transmissibility of these variants, it is of clinical importance to be able to distinguish these new variants from the original strain.

LexaGene’s MiQLab can be easily configured to run tests for both coronavirus detection and strain identification as it is capable of screening for up to 27 genetic targets at once.

Dr. Regan said LexaGene was founded to fill a critical technology gap.

“LexaGene’s MiQLab is designed to be a point-of-care system that is open-access in nature. Once a pathogen emerges or mutates, the MiQLab system is designed to quickly onboard new tests to detect a desired target, which would speed up timelines for point-of-care testing,” Regan added.

To date, there is no FDA approved device that is designed for point-of-care usage and is open-access.

The company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.

LexaGene is up 4.39 per cent to C$1.19 per share at 3:22pm EST.

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