RICH TV LIVE Interview Lexagene Holdings CEO Jack Regan (LXG, LXXGF) – June 7, 2021 – LexaGene Holdings, Inc. , ( OTCQB: LXXGF ; TSX-V: LXG ) (the “ Company ”), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, is pleased to announce Denver Animal Emergency has provided LexaGene a purchase order for a MiQLab System™.
Rich picks daily is an online community for traders to exchange smart straightforward and profitable investment ideas and join us today at richpixdaily.com subscribe to us on youtube to learn useful stock trading secrets and discover the next 10 baggers hi how’s everybody doing today i’m your host rich here on behalf of rich tv live with our very special
Guest jack regan the ceo of lexigene holdings how you doing today jack i’m doing great race thanks for having me on the show hey my pleasure and we’d like to learn a little bit more about lexigene holding so lexigene holdings is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing can you tell
Us a little bit more about the technology you’ve developed and the markets it will serve yeah sure so lexigene as you said we’re a molecular diagnosis company i would say prior to 2020 the vast majority of investors out there didn’t know what pcr was and i think we’ve been sort of inundated with pcr testing in the whole covent space right now and so what
We do at lexigene is we take pcr pcr is typically done in a reference lab it sends off sites it takes time to get that result back what we have done is we’ve developed an instrument called the myqlab it brings pcr to the point of need we often say the point of care and so we’ve simplified a very complex technology made in a very simple easy to use box that
Can really be used across multiple market verticals we’ve just mentioned coronavirus we’re certainly working towards the fda we’ll get into that a little bit later on but our primary market right now is actually veterinary diagnostics and we’re also looking at other markets like food safety testing the contract drug manufacturing sector there’s a tremendous
Amount of sectors that want to do pcr-based testing and our technology can really be used in any of those very good now what sets the myqlab system apart from other rapid diagnostic systems currently available on the market yeah so blockchain technology is unique in several ways first and foremost we are what we call an open access system so what does open
Access mean when you hear the word open access think of the ability to customize the test this might not be important for say strict code testing but there are many spaces out there in research labs like academics government labs the contract drug manufacturing sectors that want to have control over what tests are done and so we enable that through open access
Testing and so it’s a feature that currently isn’t available at all in the marketplace we are going to be we are the first technology that is open access so what this means is we have the ability to really define markets really creates new markets where previously people were forced to manually do pcr in a lab and that is a fully equipped lab with people who
Are highly trained to do pcr they can then swap that out effectively for a very simple easy to use box where they can effectively hire a person with no technical background to do a very very complicated test so open access customized testing is a salient selling feature of our technology that’s not available in any other technology which should help us really
Define new markets the other unique feature is we are a flow-through system that allows for us to process larger volumes of sample and this allows for us to have higher sensitivity than other technologies in the market so where is this important food safety we’re aware that the food safety sector is a big deal people get sick from food poisoning all the
Time the industry is looking for faster better cheaper ways to do pathogen detection on our food items including the drinks and so how do you get more sense of detection for food safety in this case it’s not some animal or human that’s sick it’s literally e coli on a head of lettuce and how do you detect that one of the ways in which you detect that is you
Process a larger volume of fluid and that drives your sensitivity down which is a good thing so those are two saline features the third one is cost of goods you know for us to manufacture our consumable that is how we make our money at high volume manufacturing the manner in which we assemble our technology allows us to provide that a much lower cost this
Allows us to get into industries that are very price sensitive and importantly have a very very healthy profit margin now you mentioned that lexisgene just expanded its sales team and will focus on the veterinary market initially you touched on that what fueled the decision to pursue this market first and how will the myq lab system help both vets and pet
Owners so i founded lexigene in late 2016 and i intentionally focused on markets that i felt were underserved and had great opportunities that for me was not immediately human clinical diagnostic human clinical is certainly on the road map and the chronovirus pandemic has brought that to the forefront somewhat but nonetheless as a new company launching a
Technology for the first time it’s advantageous for us to go for effectively the lower hanging fruits and generate some sales so for that reason the vet diagnostics which has a lot of corollaries to human clinical diagnostics with the exception of the regulatory hurdle is a great greenfield opportunity for lexigene there’s effectively no competition in the
Vet space you know veterinarians are desperate for technology pet owners these days are willing to pay anything to keep their pets their family members you know healthy and well and so there’s a clamoring on the vet side to provide better quality care for their animals basically rule in or rule out an infection and figure out how best to treat an animal
Given the fact that we have antimicrobial resistance you know cropping up and being more and more of a problem and that gets to the strength of flex use technology i didn’t mention it before not only do we do pcr but we do what’s called a highly multiplex pcr why is that important we look for many different targets at once and for a certain you know disease
States that can be caused by multiple organisms for say urinary tract infections there’s about nine or ten organisms that commonly cause illness plus many of those sometimes harbor genes that confer resistance to the drugs that we often treat these infections with and so what we want to be able to do is provide a test of veterinarians and ultimately a human
Clinical market that allows for veterinarians to very quickly identify what’s causing the infection and inform them on how best to treat the infection so that animal isn’t coming back into the clinic you know a couple days later with the pet owner you know in tears saying listen you know fluffy here is downward you know spiral you know death spiral because
They haven’t been treated appropriately and we have the ability with you know point-of-care genetic testing to provide informative data on how best to treat that animal that’s huge people love their animals and they’re willing to do almost anything for them these days the myq lab for open access testing is another area of focus can you tell us a little bit
More about the system and why it has the potential to completely revolutionize various markets yeah so as i mentioned open access is really unique to lexigene we are the only platform out there that is open access easy to use you know multiplex pcr testing so our open access bin really is a catch bin for many different market verticals we have you know
Say border crossing looking for agricultural pathogens coming in from new mexico mexico or say canada we have looking for pathogens that might affect the aquaculture industry like shrimp and salmon salmon species we also have things like contract drug manufacturing in this past year there’s been a lot of focus on these major you know pharma companies like
The fish of the modernis the johnson johnson who are cranking out these vaccines where those vaccines produce they’re produced in these organizations called contract drug manufacturing organizations they have these massive bioreactors that you know literally can hold hundreds of thousands if not millions of dollars of product it’s very very important for
These contract drug manufacturing organizations to do proper qc checks on the raw materials when they scale up the size of the bioreactor you know are they checking to make sure there’s not a contamination in there that’s going to bring down the bioreactor and so what they’re looking for are not human pathogens but they are contaminants that can destroy
A product and there by the fda won’t allow it to be sold so what are they looking for looking they’re looking for technology that’s easy to use that can do multiplex testing like we can do and that is very sensitive to effectively identify the contamination hopefully of a raw material before it even goes into the bioreactor and certainly if somehow during
Use the bioreactor gets contaminated by personnel identify that quickly so they’re not investing you know hundreds to millions of dollars actually this bioreactor to have it also didn’t crash out and lose all that product so the contract drug manufacturing sector is a sector within open access that we see a lot of promise in because our first sale went to a
Contract drug manufacturing organization and so we’ve looked more and more into this industry it is an industry that i would say is second if you will to veterinary diagnostics for us again a non-regulated industry that we can immediately start selling into and so for that reason we see it as a fantastic opportunity for the company that sounds great now i
Know a lot of our investing community is really interested in learning about your fda emergency use authorization for sars covin 19 testing can you tell us a little bit more about that yeah certainly so lexigene views our technology as a premium product and it’s certainly better than a lot of the technologies being used for current virus tests out there on
The market today without a doubt that doesn’t necessarily that doesn’t mean period that the fda also gives us a a green path to go start marketing technology we have a brand new system that has to go through many checks through the fda in regards to our firmware our hardware our software and our chemistry everything needs to be validated as a completely new
System because they’ve never seen this before this is in contrast to some of the multi-billion companies out there that actually have previously put technology through the fda it’s already 510k 510k cleared so getting the eu way on top of that is very very simple for us we’re going to the fda for the very first time and so the fda does take a very close look
To make sure the system meets all their requirements including making sure electronics quality management system is up to snuff and all the validation work has happened so we are progressing our way through that work it is a large body of work we feel very confident in our technology what we will be able to do in regards to human clinical diagnostics but it
Does take some time and because of that until we feel like the submission and approval is imminent we’re going to be relatively quiet in the airways regarding fda just because we don’t want to you know set a a false pretense to how quickly this is going to happen getting to the fda but we’re certainly optimistic in our prospects now the company’s ongoing
Success can be attributed to its impressive leadership team and advisory board can you talk about some of the key members of the team and what the experience they have brings to the table yeah and so just going back to the fda thing you know if you look at our staff one i’m extremely proud of the staff that i’ve hired they come with a tremendous amount of
Expertise you know if you look at steve armstrong he’s our ceo he has helped companies launch more than 50 devices through the fda and not just the fda in the united states but actually placing these devices in over 100 countries worldwide so he is effectively a regulatory expert and he is really our lead engineer manufacturing qc person at the company and
So he is just phenomenal we also have dr nathan walsh he’s got a his uh biochemist he’s got a biochemistry degree from brown university he went on to get his doctorate at mit he’s brilliant he has over 20 years of experience working in the genomics and microfluidic space and i’m not going to go into all of our directors but i encourage your viewers to go look
At our page look at the bios of the team the team is extremely talented not just the executive officers if you will of the company but look at our directors and also look at the scientific advisory board i’ve gone to great lengths to build integrity into the company and i’m very proud of each and every one of the higher management if you will at the company
So look into their backgrounds and i i’m sure you’ll be pleased with what you see so we’ve got investors here at rich tv live that will be watching this video from many countries all over the world what should investors watch out for from lexi jean in the next few months so looking at actually now is actually an opportune time if you look at the history of
The company again founded in 2016 at the time we had effectively nothing i had licensed to pass into a private company we had executed a reverse takeover of a public shell in canada and we were a prime target if you will for pump and dump artists and so we went through some fluctuations early on to be highly expected of stock with effectively nothing behind
The company aside from my name and my integrity and so but piece by piece we worked on developing the story developing the product and over the first two and a half years again very slow progress because the company had effectively very little funding but we built an alpha prototype and demonstrated proof of principle in the first two and a half years the
Following year we built and tested the beta prototype that was actually field tested very successfully and this past year we have been working on our commercial system called the myqilab so here we are today and it is now i guess it’s what it’s may and if you look at the stock price over the course of this past you know five months or so a lot of the market
Cap companies have been hit hard particularly diagnostics a lot of people are thinking that the chronic virus pandemic is on its way down at the door we certainly hope that to be true but one of the things that i want to emphasize here is that lexigene is not just a coronavirus company it’s certainly something that’s on our roadmap but again this company
Was founded on the principles of basically serving the underserved markets the veterinary diagnostic space the contract drug manufacturing space and certainly with time we expect to be through the fda and servicing the human clinical space but within open access again we have the ability to target many different market verticals and our technology is primed to
Do that so as we approach basically you know june and the rest of the summer we’ve just hired four sales reps and the reason we’ve done this is because we have a lot of confidence in our technology where it is today and we’re going to be pushing strongly for early adopter sales and so as we progress through the summer we expect to be announcing progressively
More sales every passing month month and we think we’re going to be in a great position in a few months and the stock certainly i would expect the value of the stock to reflect that yeah and you know when we look at the stock we can see a company that’s undervalued in my opinion under appreciated underexposed hopefully these types of interviews will help you
Gain more exposure and get more eyeballs on the security and get people to learn more about the company what is the best way for an investor to get in contact with the company if they have any questions jack so we always try to be as responsive as possible to any equity coming to the company and so if an investor is is contacting us we have ir lexigene.com
That email is available on our website you have general questions regarding the company we have an info at lexington.com and generally you try to respond generous in 24 hours or 48 hours and certainly if it’s a level of high concern it gets elevated to me and i try to address it so we appreciate any comments that come in well thank you so much for your time
Today jack regan the ceo of lexigene holdings thank you for having me my pleasure and before everybody says goodbye just remember rich tv live is strictly for information education purposes please do your due diligence do your research before you invest in anything that we discuss here rich tv live if you like the video please smash the like button comment
Down below share the video everywhere and subscribe if you’re not winning you’re not watching we bring you the winners and we’ll bring them to you first thank you for watching everybody thank you jack have a nice day everyone thank you you
Transcribed from video
RICH TV LIVE Interview Lexagene Holdings CEO Jack Regan (LXG, LXXGF) By RICH TV LIVE
