Skip to main content
Premium Trial:

Request an Annual Quote

LexaGene Closes C$2.8M Private Placement

NEW YORK (GenomeWeb) — LexaGene said today that it has closed an oversubscribed private placement, grossing C$2.8 million ($2.1 million).

Through the transaction, Beverly, Massachusetts-based LexaGene — which trades on the Toronto Stock Exchange — sold roughly 4.4 million units consisting of one common share and one warrant for C$.65 apiece. Each warrant can be used to purchase a common share of the company for C$.85 and is exercisable over the next 15 months, subject to certain conditions that trigger an accelerated expiry.

LexaGene said it intends to use the proceeds of the transaction to fund beta development of its LX Analyzer technology, which uses microfluidic PCR for pathogen detection, and for marketing the technology to the food safety and veterinary diagnostics industries.

LexaGene announced plans for the private placement earlier this month. Last summer, the firm closed a bought deal financing to raise C$5.8 million.

The Scan

Support for Moderna Booster

An FDA advisory committee supports authorizing a booster for Moderna's SARS-CoV-2 vaccine, CNN reports.

Testing at UK Lab Suspended

SARS-CoV-2 testing at a UK lab has been suspended following a number of false negative results.

J&J CSO to Step Down

The Wall Street Journal reports that Paul Stoffels will be stepping down as chief scientific officer at Johnson & Johnson by the end of the year.

Science Papers Present Proteo-Genomic Map of Human Health, Brain Tumor Target, Tool to Infer CNVs

In Science this week: gene-protein-disease map, epigenomic and transcriptomic approach highlights potential therapeutic target for gliomas, and more