MURRIETA, CA--(Marketwire - March 28, 2008) - CLX Investment Company, Inc. (OTCBB: CLXN), which owns 51% of Zonda, Incorporated, a developer and manufacturer of unique diagnostic tests for the medical and non-medical markets, today announced that the company has identified a rapid diagnostic device for the medical market that it has targeted for potential acquisition. As additional due diligence and negotiations are undertaken, the company expects to pursue an initial agreement in the form of a letter of intent for the acquisition of the device.
CLX is currently preparing to initiate clinical trials for Zonda's rapid point of care test for chlamydia as part of the effort to achieve FDA clearance for the product. The company recently announced an upcoming validation study to perfect the testing protocol in preparation for the clinical trials.
As CLX supports the Zonda product line, it will continue to identify additional innovative products as potential acquisitions and opportunities for distribution relationships for CLX. CLX intends to acquire, license and distribute innovative medical diagnostic technologies that are ideally suited for further development, regulatory approval and distribution in the United States.
"Identifying additional potential acquisitions falls in line with CLX's stated goal to establish itself with multiple products in the medical diagnostic testing market, and having a product with all of the necessary clearances for sale in the U.S. would also allow us to begin utilizing our existing relationships with major domestic distributors," commented Vera Leonard, chief executive officer of Zonda and CLX.
"The relationships we have established over the past several months, including with American Health Partners and its sub-contractor, Safis Solutions, brings additional credibility to our team and allows for greater capacity to bring on new acquisitions. The fact that the targeted acquisition is a rapid diagnostic test presents considerable synergies with our efforts on behalf of the Zonda product. We believe that this type of acquisition would allow CLX to immediately increase its profile in the medical supply market, particularly in the rapid diagnostic segment," Ms. Leonard added.
In addition to the U.S. market, the new acquisition may have significant potential in Europe, where the Zonda chlamydia product is sold, and other overseas markets.
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About CLX Investment Company
CLX Investment Company (www.clxinvestments.com) holds a 51% equity interest in Zonda, Inc. CLX has also invested, and holds a common stock position, in ActionView International, Inc. (www.actionviewinternational.com), a publicly traded global manufacturer and marketer of "smart" scrolling advertising billboards.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Investments are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Investments' control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.
Gemini Financial Communications