viewLexaGene Holdings Inc.

LexaGene Holdings hires first wave of experienced sales executives ahead of MiQLab launch

In the first round, the firm has hired a director of clinical sales and a veterinary sales representative

LexaGene Holdings Inc. -
MiQLab is a fully automated genetic analyzer designed to deliver reference-quality data at the point-of-need

LexaGene Holdings Inc (CVE:LXG) (OTCQB:LXXGF) said it has hired a first wave of experienced salespeople ahead of the commercial launch of its flagship analyzer product MiQLab before the end of September this year.

In the first round, the firm has hired a director of clinical sales and a veterinary sales representative, Dr Jack Regan, LexaGene’s CEO and founder noted in a statement.

READ: LexaGene says flagship product MiQLab being manufactured for commercial launch in September 2020

"Both have a wealth of experience in their respective fields and will begin working full time for LexaGene. We will continue to hire additional salespeople later in the summer and early fall. It’s very exciting to be at the stage where our first sales are right around the corner,” Regan said.

The occupant of the clinical role has worked in the industry for over 15 years at Alere Inc and Cepheid, selling PCR systems for point-of-care testing and molecular tests for respiratory disease detection and sexually transmitted diseases such as HIV, chlamydia, and gonorrhea, said LexaGene.

The veterinary sales specialist has worked in the sector for the last 17 years, most notably for IDEXX Laboratories for the past four years,  the company added.

"Having specialists with experience at these leading companies and in the field will prove an invaluable addition to the company. We are thrilled that we are able to continue to attract such high caliber people to join LexaGene," added Regan.

MiQLab is a fully automated genetic analyzer designed to deliver reference-quality data at the point-of-need. The technology screens samples for up to 27 different targets at once -- looking for pathogens and/or antimicrobial resistance factors -- and returns results in approximately one hour.

It is designed to be operated at the site of sample collection to avoid the delay associated with shipping and manually processing samples.

LexaGene says the technology can be used in multiple billion-dollar markets, including human and veterinary diagnostics as well as food safety testing.

Also in Tuesday's statement, LexaGene announced that 99% of the warrants that were set to expire on June 29 this year were exercised, bringing in C$2.8 million to the group's treasury. These monies are being used to support general manufacturing and commercial operations, it said

LexaGene will be hosting a webinar to provide additional information as well as a general corporate overview at 2 PM EST on July 14 this year. All are invited to register for the webinar at this link HERE.

Shares added 3.57% on the day in Toronto to C$1.16 each.

Contact the author at giles@proactiveinvestors.com

Quick facts: LexaGene Holdings Inc.

Price: 0.75 CAD

Market: TSX-V
Market Cap: $85.28 m

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LexaGene hires two salespeople to tackle diagnostic and vet market with new...

LexaGene (CVE: LXG-OTCQB: LXXGF) CEO Dr Jack Regan joined Steve Darling from Proactive Vancouver with news the company has made two key sales hires as they look to begin to roll out their genetic analyzers for rapid pathogen detection called MiQLab. Regan says they are hiring in the...

on 14/7/20

3 min read