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Centrex, Inc. Announces Formation Of Subsidiary


10/19/2005 5:09:56 PM

TULSA, Okla.--(BUSINESS WIRE)--Feb. 5, 2004--Centrex, Inc. (OTCBB:CNEX) today announced that in order to enhance the Company's ability to accelerate the development of the Company's Single Molecule Nucleic Acid Detection (SMD) technology Centrex, Inc., in conjunction with Trifocal LLC, has formed Early Warning Technologies, Inc. Early Warning Technologies will be majority-owned by Centrex and minority-owned by Trifocal LLC. R. Scott Wills, the principal of Trifocal, will serve as CEO of Early Warning Technologies.

Early Warning Technologies will assume the technology assets of Centrex along with certain contractual obligations with Los Alamos and the University of California, and will take over the development and commercialization of the SMD technology from Centrex. This arrangement will allow Centrex to pursue other technology acquisitions and potential joint ventures. Centrex CEO, Thomas R. Coughlin, Jr. M.D. will also serve on the Board of Early Warning Technologies, and will serve as Chief Scientific and Technical Advisor for Early Warning Technologies. The agreement will require shareholder approval

Scott Wills is an experienced corporate executive who has held management positions ranging from start-ups to Fortune 500 companies. He has extensive experience across a broad range of technology industries. As an entrepreneur, Mr. Wills has been involved in the management and funding of both private and public companies and has served as CEO of three other companies. Dr. Coughlin commented, "We are extremely excited about the prospect of working with a person of the caliber of Scott Wills and that Early Warning Technologies will provide the platform necessary to achieve our development goals."

Centrex's SMD technology has been exclusively licensed from Los Alamos National Laboratories and represents advantages over existing DNA and RNA detection methods as well as culture-based test methods. Centrex's detection system is designed to be adaptable to detect a variety of bacterial or viral organisms by recognizing the unique DNA or RNA fingerprint of the organism. The prototype instrument, currently being developed will utilize disposable, multipurpose microfluidics lab cards that incorporate the SMD technology.

For more information, visit the Centrex website at www.centrexcorporation.com or contact 843-971-4848.

This press release contains certain forward-looking statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our business. Those uncertainties are discussed in the Company's SEC filings.

Contacts

Centrex, Inc., Tulsa Ron Wheet, 843-971-4848 www.centrexcorporation.com


Read at BioSpace.com

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