BEVERLY, Mass., March 01, 2018 (GLOBE NEWSWIRE) -- LexaGene Holdings Inc. (OTCQB:LXXGF) (TSX-V:LXG) (the “Company”), a biotechnology company that develops instrumentation for pathogen detection, announces the appointment of Jeffrey Mitchell as Chief Financial Officer of the Company, who replaces Ms. Zula Kropivnitski effective today.
“I'm very excited to welcome Jeff to our team. He is a great addition and his skill set will help us accelerate our company’s growth and position our products for success in the marketplace,” stated Jack Regan, CEO of LexaGene. “Bringing Jeff onboard is part of our strategy to make LexaGene a US-focused company. Jeff will work out of the Massachusetts headquarters and his experience in global financial operations and executive management for medical device, consumer product, and manufacturing companies will be of great value for LexaGene."
Mr. Mitchell has over two decades of financial and SEC experience. Before joining LexaGene, he served in positions of increasing responsibility including Controller and Director of Finance, overseeing areas such as public company financial reporting, audits, and financial planning and analysis for Palomar Medical Technologies, Inc. which was publically traded on the NASDAQ before Jeff helped orchestrate its sale to Cynosure in 2013 for USD$294M. In addition to his many years at Palomar, Mr. Mitchell has served in numerous financial and strategic advisory roles for medical device, imaging, and diagnostic companies.
"On behalf of our entire team and the board of directors, I would like to thank Ms. Kropivnitski for her dedication and contributions during the Company’s early stages and wish her the best in her future endeavors,” stated Dr. Regan, CEO of LexaGene.
ON BEHALF OF THE BOARD
Dr. Jack Regan: Founder, Chief Executive Officer
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About LexaGene Holdings Inc.
LexaGene is a biotechnology company developing the very first fully automated pathogen detection platform that is open-access, the LX6. The open-access feature will empower end-users to target any pathogen of interest, as they can load their own real-time PCR assays onto the instrument for customized pathogen detection. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, and press ‘go’. The instrument is expected to offer excellent sensitivity, specificity, and breadth of pathogen detection. The instrument will be able to process six samples at a time, in an on-demand fashion, returning results in about 1 hour. The company expects to sell its technology in the food safety, veterinary diagnostics, water quality monitoring, and aquaculture pathogen surveillance markets.
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.
Source: LexaGene Holdings Inc