In the interest of accurate information, I verified with a company contact I converse with on occasion, that Lexagene does not own the original 2 patents. They are owned by Lawrence Livermore National Laboratory. We have exclusive license to the patents and pay a 3% or less royalty per machine sold. These patents expire in 2028. Lexagene owns one patent that is pending and additional in the writing phase. These will expire in 2040. There will be no royalty payment for the cartridges sold. Cost of cartridges will be $3-$4, and will sell for $40-$100 depending on the industry in which it is used.
Final design lock down has been pushed back to February, commercialization to Q2. The 4 Beta testing labs had great feedback on how to improve user experience with the LX2 so Lexagene will be taking these suggestions into account in the final design. There may be one more beta tester - that being in the veterinary industry.
A buyout is probably not imminent. He said that one could take many different forms, if it happens at all. Complete buyout, license to certain industries and keep others for our selves, keep the cartridge business - all are options.
They are in the final stages of what seems to be their final financing as he said there is large amounts of very interested money coming in that should carry Lexagene to commercialization. I'm stoked!!
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