VANCOUVER, British Columbia, Aug. 15, 2017 (GLOBE NEWSWIRE) -- LexaGene Holdings Inc. (OTCQB:LXXGF)(TSX-V:LXG) (the “Company”), a biotechnology company that develops instrumentation for pathogen detection, today announced the appointment of Manohar Furtado, Ph.D., to the Company’s Board of Directors. This follows the recent de-risking and unveiling of LexaGene’s pre-alpha prototype for pathogen detection, which is scheduled to be completed end of November 2017.
“Dr. Furtado is joining LexaGene’s Board of Directors at a pivotal moment for the Company, as we are continuing to push forward with the building and testing of our first-of-its-kind prototype for rapid pathogen detection,” said Dr. Jack Regan, LexaGene’s CEO. “As such, Dr. Furtado’s in-depth knowledge and experience across the human health and safety landscapes will serve us well as we come closer to completing our instrument and changing the future of pathogen detection as we know it today.”
Dr. Furtado has worked in the life sciences industry for over 30 years, with experience in discovery research, clinical diagnostic testing, product development and commercialization, M&A activity, fundraising and strategy. He currently serves as President and Founder of Biology for Global Good LLC and Chief Scientific Officer and Chief Regulatory Officer at Apton Biosystems. Additionally, as the former Vice President of R&D at Applied Biosystems, Dr. Furtado helped to build the company’s molecular diagnostics, genomic assays, human identification, food pathogen detection, animal health, pharmaceutical analytics, environmental testing and molecular medicine platforms, which generated over $500 million in revenue.
Dr. Furtado has also served as a business development consultant to Bio-Rad, Advanced Cell Diagnostics, DxNow, RxFulcrum, Sample 6, Apton Biosystems and Vibrant Biosciences. He was Senior Director for Regulatory Affairs at Cepheid and appointed to the National Biodefense Science Board by the former Department of Health and Human Services Secretary Kathleen Sebelius. Previously, Dr. Furtado served as Assistant Professor of Infectious Diseases and Pathology and Principal Investigator for the Robert H. Lurie Comprehensive Cancer Center at Northwestern University, Director of the CLIA-certified Virology Laboratory at Northwestern Memorial Hospital and Biotechnology Lab Director at Northwestern.
“My mission in joining LexaGene’s Board of Directors is not only to help drive growth for the Company, but also to aid in the team’s efforts to bring LexaGene’s revolutionary pathogen detection system to sites in need all over the world as quickly and efficiently as possible,” added Dr. Furtado. “From food safety and veterinary diagnostics to water quality testing and even human pandemic prevention, these markets are in perpetual need of a fast, sensitive pathogen detection system that is easy-to-use and adaptable, as the status quo is no longer acceptable.”
Dr. Furtado has received several grants from funding agencies, published over 90 publications and presented at over 200 conferences on various topics that are related to human health and safety.
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ON BEHALF OF THE BOARD “Jack Regan”
Jack Regan: Founder, Chief Executive Officer, and Director
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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 six samples at a time, in an on-demand fashion, returning results in about 1 hour. The company expects to sell its technology in the food safety, veterinary diagnostics, water quality monitoring, and aquaculture pathogen surveillance markets.
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.
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