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LexaGene CEO: Company ending 2019 ‘with a bang’

Published: 09:13 19 Dec 2019 EST

Lexagene Hldgs Inc. - LexaGene CEO says company ending 2019 ‘with a bang’
The commercial launch of the LX Genetic Analyzer is expected in June 2020

LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) CEO Dr Jack Regan said Thursday the company is ending 2019 “with a bang.” 

In a letter to shareholders recapping the year, he called the year “tremendous and transformative” for the company that's developing genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing. 

“In January, we began the year by confirming our alpha prototype performed the way we all knew it could – and quickly generated four data sets covering veterinary medicine, food safety, agricultural pathogen screening, and human genotyping," he said. 

READ: LexaGene Holdings on track to commercially design LX2 Genetic Analyzer

"In the early spring, we turned our attention to developing our beta prototype – and in four short months, we had our betas up and running – generating very high-quality data. In summer and early fall, we kicked off our beta testing program, where we shipped our technology to prospective customers," he added. 

Regan said the Massachusetts-based company’s technology “was enthusiastically embraced by beta users in veterinary diagnostics, human clinical research and agricultural testing – and we viewed the program as a big success.”

He said LexaGene is working on finalizing the design of its commercial unit and will soon start manufacturing its flagship LX Genetic Analyzer for rapid pathogen detection, with an anticipated commercial launch in June 2020.

“We are ending the year with a bang, as we were just featured by Forbes,” Regan said. “It’s clear the word is starting to spread about the potential of our rapid, on-site diagnostics technology and the impact we expect it to have in many industries.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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