LexaGene Holdings Unveils LX6 Pathogen Detection Prototype in Tampa, Florida10 min read
LexaGene Holdings (LXG:TSXV) (LXXGF:OTC) is a sponsor and client of PinnacleDigest.com. We introduced the company to all of our subscribers in our April 23, 2017, newsletter titled LexaGene Holdings – Our Big Bet of 2017 (click here to read). At that time, it had last traded for CAD$0.81. After a very strong trading week, with nearly 3 million shares traded since Monday’s market open, LexaGene hit a high of CAD$0.95 today – roughly a 17% pop. It closed trading today at CAD$0.91. For some context, the TSX Venture, LexaGene’s Canadian trading exchange and our primary focus here at Pinnacle Digest, has lost approximately 7% since April 23, 2017.
LexaGene Holdings unveiled its LX6 Prototype at the International Association for Food Protection (IAFP) Annual Meeting in Tampa, Florida.
LexaGene’s automated instrument can quickly detect multiple pathogens with sensitivity and specificity. According to the company,
“The platform is anticipated to transform the way food safety, veterinary diagnostics, water quality monitoring, aquaculture pathogen surveillance, and other markets get critical answers in less time.”
Jack Regan Unveils LX6 Prototype at Food Protection Conference
LexaGene’s CEO and Founder, Jack Regan, and the company’s President Daryl Rebeck attended the IAFP 2017 in Tampa this July.
Top biotech firms from around the world attend to share information on current and emerging food safety issues. As a result, the latest science and innovative solutions to new and recurring problems are presented.
According to foodprotection.org,
“Held in various locations throughout North America, this meeting has grown over the years to become the leading food safety conference worldwide.”
“The IAFP Annual Meeting is attended by more than 3,400 of the top industry, academic and governmental food safety professionals from six continents. This renowned event owes its reputation and success to the quantity, quality, and diversity of each year’s program; the quality and relevance of exhibits sharing the latest in available technologies; leading experts speaking on a variety of timely topics; and special recognition of outstanding professionals and students for their contributions in the food safety field.”
Excerpts from Pinnacle Digest’s report on LexaGene Holdings published April 23, 2017
“The US government has recently passed legislation (which we will elaborate on shortly) for stricter pathogen testing requirements for the food industry. The failure to detect pathogens can result in lost lives and billions in revenue / market cap of negatively affected companies.
In Pathogen detection: A perspective of traditional methods and biosensors, the authors argue,
“In spite of the real need for obtaining analytical results in the shortest time possible, traditional and standard bacterial detection methods may take up to 7 or 8 days to yield an answer.”
The above article was published in 2006. Our research found that today certain cases of bacterial detection methods have been reduced to 1-3 days, particularly those competing with our featured company; however, 1-3 days still leaves much room for improvement. Our newest featured company aims to provide potentially life-saving results in roughly 1 hour with its technology. If accomplished, this would completely disrupt the pathogen detection market. If you’ve read our letters over the years, you know this type of potential industry disruption is precisely what we look for in a featured company…
According to our newest featured company, its pathogen detection technology — licensed from LLNL — is designed to target underserved markets of approximately US$17.8 Billion. The four key markets pathogen detection is vital for, are as follows:
*Water Quality Monitoring
*Aquaculture Pathogen Detection…”
On Dr. Jack Regan, LexaGene’s Founder, Chief Executive Officer, and Director, our report stated,
“Jack worked as the Group Leader of the Advanced ddPCR Applications Division at QuantaLife (mentioned above), where the company moved from concept to commercialization in roughly 36 months. He was arguably the most prolific inventor at QuantaLife, and his contributions helped justify the $162 million valued buyout by Bio-Rad, a US$6 billion market cap company. Dr. Regan chose to leave Bio-Rad about six months ago to focus on LexaGene Holdings in an attempt to bring its pathogen detection technology into commercial markets.
Note: Part of QuantaLife’s ‘secret sauce’ was that it could provide accurate gene copy number counts quickly. Dr. Regan and LexaGene’s employees are now working to reduce the time it takes to accurately detect and quantify pathogens.
Jack knows what it takes to bring a technology from concept to commercialization and the value creation that happens along the way.
LexaGene’s instrument, currently being developed, is known as LX6, and it represents what could be a significant improvement in detection capability over the predecessor instruments.”
Click here for our full report published on April 23, 2017.
THIS IS NOT INVESTMENT ADVICE. All statements in this report and the included video are to be checked and verified by the reader.
This report may contain technical or other inaccuracies, omissions, or typographical errors, for which Maximus Strategic Consulting Inc., owner of PinnacleDigest.com, assumes no responsibility.
In all cases, interested parties should conduct their own investigation and analysis of LexaGene Holdings Inc. (“LexaGene” or “LexaGene Holdings” or “the Company”), its assets and the information provided in this report.
Forward Looking Statements:
All statements in this report, other than statements of historical fact should be considered forward-looking statements. These statements relate to future events or future performance. Much of this report is comprised of statements of projection. Such statements or information involve substantial known and unknown risks and uncertainties, including general business, economic, competitive, political and social uncertainties; LexaGene’s ability to leverage the mentioned technology; its ability to design and conduct development activities and studies and clinical trials for its technology; the potential timing and results of any such clinical trials LexaGene may conduct; its ability to obtain regulatory approvals in order to market any planned products; its ability to achieve financial projections; and its ability to achieve milestones. Factors that could cause the Company’s results to differ materially from those expressed in forward-looking statements in this report include, without limitation, the following risks: any development activities or clinical trials LexaGene may conduct which may not produce favorable results; regulatory agencies may require that LexaGene undertake additional or more costly studies than anticipated; LexaGene may never gain regulatory approval for any of its product candidates; it may not be able to protect intellectual property rights; the intellectual property of others and any asserted claims of infringement; general business and economic conditions may limit its ability to obtain necessary capital to carry out all of its business plans; the consequences of competitive factors in the industry in which LexaGene operates may restrict the success of any product candidate it is able to commercialize; the company may not be able to attract or retain key personnel, and the willingness of third parties to sign agreements with LexaGene on terms that are acceptable to management of LexaGene. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified in this report, assumptions have been made regarding, among other things, operating conditions, capital and other expenditures, and project development activities. Undue reliance should not be placed on forward-looking statements because we can give no assurance that such expectations will prove to be correct.
Risks and uncertainties respecting junior technology companies such as LexaGene are generally disclosed in the annual financial or other filing documents of those and similar companies as filed with the relevant securities commissions, and should be reviewed by any reader of this report. Investors are cautioned not to consider investing in any company without looking at said company’s regulatory filings and financial statements. More detailed information about LexaGene and the risk factors that may affect the realization of any forward-looking statements shall be found in its filings as required by Canadian Securities Administrators and may be read free of charge on the System for Electronic Document Analysis and Retrieval (SEDAR) filing system on the SEDAR internet site at http://www.sedar.com. Every reader of this report should review LexaGene’s regulatory filings and financial statements filed on SEDAR.
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Disclosure of Compensation & Stock Ownership:
Set forth below is our disclosure of compensation received from LexaGene and details of our stock ownership in the company as of August 3, 2017. This disclosure statement will never be updated on this page:
Maximus Strategic Consulting Inc., owner of PinnacleDigest.com, has been paid CAD$75,000 plus gst to provide online advertisement coverage for LexaGene Holdings Inc. (“LexaGene”) for a pre-paid nine-month online marketing agreement. The company (LexaGene) has paid for this coverage. The coverage includes, but is not limited to, the creation and distribution of reports authored by PinnacleDigest.com about LexaGene, as well as display advertisements and news distribution about the company on our website and in our newsletter. We (Maximus Strategic Consulting Inc., owner of PinnacleDigest.com) own shares and warrants of LexaGene which were purchased in LexaGene’s previously announced private placement. Alexander Smith, Head of Market Research for PinnacleDigest.com, also owns shares and warrants of LexaGene which were purchased in that same private placement. We (Maximus Strategic Consulting Inc. and Alexander Smith) have bought and sold shares of LexaGene in the past. We (Maximus Strategic Consulting Inc. and Alexander Smith) intend to sell every share we own, and any shares we may purchase in the future, of LexaGene for our own profit. All shares we (Maximus Strategic Consulting Inc. and Alexander Smith) currently own, or purchase in the future, of LexaGene will be sold without notice to our subscribers. Please recognize that we benefit from price and trading volume increases in LexaGene. Please recognize that we are extremely biased when it comes to LexaGene.
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Trading in the securities of LexaGene should be considered highly speculative.