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NEW YORK – LexaGene said today that it has closed a previously announced financing round, grossing C$6.7 million (US$5.1 million).

The Beverly, Massachusetts-based firm, which trades on the Toronto Stock Exchange, will use the net proceeds for research and development, marketing, and general corporate purposes to support commercialization efforts of its LX Analyzer technology, which uses microfluidic PCR for pathogen detection. 

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Nature News reports that recent proposed changes to the US National Science Foundation have raised concerns about a shift away from the agency's focus on basic research.

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