Lexington Biosciences Inc. (LXGTF)

[StockBro75]

One of the most prescient recent moves by LXGTF recently for sure:

Lexington Hires Medical Device Reimbursement Experts

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Published: Dec 7, 2017 9:00 a.m. ET


VANCOUVER, BC, Dec 07, 2017 (Marketwired via COMTEX) -- Company engages Navigant Consulting to formulate strategy for coverage policy

VANCOUVER, BC--(Marketwired - Dec 7, 2017) - Lexington Biosciences, Inc. (cse:LNB) (otcqb:LXGTF) (the "Company" or "Lexington"), a development-stage medical device company, is pleased to announce entry into a strategic business relationship with a San Francisco arm of Navigant Consulting Inc., formerly Quorum Consulting.

The intent of the relationship is to work with the relevant authorities towards developing a coverage policy in support of the planned commercial rollout of Lexington's HeartSentry endothelial function measurement product.

Navigant Consulting is a specialized professional services firm based in Chicago, Illinois. The company has nearly 50 offices across the United States, Canada, Europe, Middle East and Asia. Navigant recently acquired Quorum Consulting, a San Francisco based specialist service provider with extensive experience in the field of medical device reimbursement and health economics. Services include a proven ability to define strategic business opportunities and of influencing global coverage and payment policies. For more information, visit: www.navigant.com.

Lexington's President Eric Willis comments, "As recently announced, we are moving ahead quickly towards the commencement of our HeartSentry pilot clinical research study designed to build the foundational dataset ultimately aimed at supporting FDA clearance. As we plan for market entry, we know that a key element to commercial success will come from fielding a product that meets the threshold for medical insurance coverage. Regulatory approval rarely guarantees payment coverage for new devices, so we are undertaking what we believe is the prudent strategy of beginning that process today. We are delighted to have the opportunity to work with the Navigant team and feel certain the advice and direction we receive will prove invaluable towards providing HeartSentry the best strategy for market introduction."

To find out more about Lexington Biosciences, interested readers are invited to visit our website and view our video featuring principal HeartSentry inventor Dr. Jonathan Maltz, Ph.D., which provides an excellent overview of our business proposition and opportunity ahead. Please also follow us on Facebook, Twitter and LinkedIn.

About Lexington Biosciences, Inc. (cse:LNB) (otcqb:LXGTF) Lexington Biosciences is a medical device company developing the HeartSentry, a new non-invasive diagnostic device to measure and monitor cardiovascular health by assessing the function of a person's vascular endothelium -- the vital innermost lining of a person's cardiovascular system. Currently, the standard of care is measurement using expensive external ultrasound by a highly trained technician. The HeartSentry core technology was developed at the University of California Berkeley over a fifteen-year R&D period involving many research studies and product iterations resulting in a portfolio of multiple pending and issued patents licensed to the company. Our aim is to make HeartSentry accurate, quick, and cost effective so it can become the standard of care for cardiologists, general practitioners, and ultimately patients for first line evaluation of a person's cardiovascular health. Lexington is engaged with the US FDA and other regulatory agencies on the required product approvals for the HeartSentry. For more information about the company please visit: https://lexingtonbiosciences.com/.

Eric Willis CEO & Director