Business
Planet Ventures Inc. Comments on Lexagene's Company Growth
(via TheNewswire) Vancouver, British Columbia / TheNewswire / February 12, 20...
About this update from Planet Ventures Inc
[{"type":"text","content":"Planet Ventures Inc. Comments on Lexagene's Company Growth(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / February 12, 2018 - Planet Ventures Inc. (the \"Company\") (TSX.V: PXI; FSE: P6U) is pleased to provide shareholders with an update on one of its investment, Lexagene Holdings Inc.\n\n \n \nOn February 6th 2018, the company announced that they have significantly expanded its operations in Massachusetts. Lexagene recently signed a lease for a 17,500-square-foot space, located at 500 Cummings Center, Suite 4550, in Beverly.\n\n \n \nDr. Jack Regan, Lexagene's chief executive officer stated, \"As Lexagene started ramping up operations in December to meet our 2018 goals, we have leased a larger space to grow into which will support our research and development and manufacturing efforts moving forward. Additionally, over the last several weeks, we've made six key new hires and plan to bring an additional 20 more new employees on board in the coming weeks in anticipation of this growth. The Beverly location is also particularly ideal for us since it allows us to tap into the very talented pool of engineers and scientists in the Boston area.\"\n\n \n \nThe company is installing a state-of-the-art, level-two biosafety laboratory into the space. This will allow Lexagene to adhere to biocontainment precautions, specified by the CDC, while testing for dangerous pathogens, such as E. coli and staphylococcus.\n\n \n \nDr. Regan further stated, \"2018 is going to be a very important year for the company as we bring the LX6 pathogen detection system online and move the machine towards commercialization.\"\n\n \n \nPlanet was an early investor in Lexagene and took part in the company's initial financing in 2017 at $0.25/share. Planet currently owns 600,000 shares. \n\n \n \nZula Kropivnitski, Planet's Chief Financial Officer states \"We are extremely proud of Lexagene's growth to date. Dr. Regan and his team have done a remarkable job moving the company forward and getting them in a position to deliver substantial value for their shareholders. We continue to support their efforts and look forward to being a part of what could become one of the most revolutionary technologies in the marketplace.\"\n\n \n \nAbout Lexagene\n\n\n \nLexaGene is a biotechnology company developing a fully automated pathogen detection platform ...