Phoenix, Arizona--(Newsfile Corp. - January 28, 2020) - The Stock Day Podcast welcomed LexaGene Holdings Inc. (OTCQB: LXXGF) ("the Company"), a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. CEO and Founder of the Company, Dr. Jack Regan, joined Stock Day host Everett Jolly.
Dr. Regan began the interview by sharing background information about himself and the Company. "While working at Lawrence Livermore National Laboratory, I filed for patent protection to cover a new design for an instrument I felt had a lot of advantages over the instrument we developed for the Department of Homeland Security's BioWatch Program. LexaGene is now commercializing the novel design captured in those patents," shared Dr. Regan. He then explained how he is using his previous experience helping a startup company launch their product and get acquired to help LexaGene grow to become a successful company.
Jolly then commented on the outbreak of the coronavirus, and asked how the Company's technology could be used to detect similar illnesses in the future. "LexaGene is a med-tech device company. We have built a fully automated genetic analyzer that is exceptionally well suited for detecting infectious diseases," explained Dr. Regan. He then expanded on the coronavirus and how the Company's technology is designed to detect similar outbreaks. "Our technology is designed to be placed at the point of care, so in this case it would ideally be placed at airports," said Dr. Regan, adding that this practice would help limit the spread of the disease.
"The reason our technology is so well suited for this is that it accepts liquid tests that can very easily be developed and shipped," said Dr. Regan. "The instrument does all of the hard work in terms of analyzing the sample, and more importantly can identify the coronavirus as well as other common respiratory viruses," he added.
Dr. Regan then expanded on the Company's LX2 Analyzer. "At its core it is a genetic analyzer," said Dr. Regan, adding that the device is designed to receive a sample and detect its pathogens. "The companion animal space, dogs and cats, is a huge market which right now has effectively no competition in it," said Dr. Regan. "We like to not only identify what is causing the infection, but we also look to inform on how best to treat the infection," explained Dr. Regan, adding that the device is capable of determining whether or not the pathogen is resistant to commonly prescribed antibiotics. "This allows for a much higher quality of care and ultimately a lower cost of care," said Dr. Regan.
Dr. Regan also commented, "We're also looking at the food safety space, as the industry is in need of innovative solutions."
Jolly then asked about the progress of the Company's device, as well as their timeline for monetization. Dr. Regan shared that the Company is currently in the stage of finalizing the instrument for commercial sale. "We expect by the end of March to be finalizing that design, and once we finalize the design we start the manufacturing process with the expectation of having our first instrument sales in the summer," said Dr. Regan.
Jolly then inquired about the Company's goals and vision over the next twelve months. "It's an exceptionally exciting time for the company," said Dr. Regan. "Now we have enough capital to start selling our technology," he shared. "We expect this will result in a significant inflection point in our stock price," said Dr. Regan.
He then discussed numerous exit strategies for the Company, including staying independent and uplisting to the NASDAQ, licensing out a market vertical to a strategic partner, or following an acquisition strategy. "All three of those are certainly possibilities in the future," said Dr. Regan.
"There is a lot of excitement over what we're building, we know there's demand, and we're looking forward to providing instruments in the near future," closed Dr. Regan.
To hear Dr. Jack Regan's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7489378-lexagene-discusses-the-company-s-2020-commercialization-strategy-with-the-stock-day-podcast
About LexaGene Holdings Inc.
LexaGene is a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press 'go'. The LX Analyzer delivers excellent sensitivity, specificity, and breadth of detection and can return results in about 1 hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.
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.
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