MURRIETA, CA--(MARKET WIRE)--Aug 8, 2008 -- CLX Medical, Inc. (OTC BB:CLXN.OB - News), which is focused on the launch and distribution of unique medical diagnostic testing products, today announced that the company has reached agreement with LETI Laboratories, a Barcelona-based biopharmaceutical company, to serve as the sole importer of CLX's subsidiary products into the European market.
LETI Laboratories will provide product support and product packaging control; coordinate sales to other European distributors; distribute the company's products in Spain and Portugal; act as the registered EU representative for CE marked products; serve as the one point of entry for CLX products into Europe; and assist with the development and implementation of pricing structures.
In meetings at last week's American Association for Clinical Chemistry (AACC) Annual Meeting and Clinical Lab Expo held at the Walter E. Washington Convention Center in Washington, DC, representatives of CLX Medical and LETI Laboratories agreed to terms that will be included in a Letter of Intent between the two companies.
Laboratorios LETI, S.L. is an independent, family-owned, biopharmaceutical company dedicated to medicinal research. The company, founded in 1909, is based in Barcelona and its industrial plant and allergy research laboratory are located in Tres Cantos (Madrid). It has subsidiaries in Germany and Portugal and operates with exclusive distributors in different European countries, South America and Africa.
Additional information on LETI Laboratories can be found at http://www.leti.com/eng/lab_perfil.asp.
Some of the initial work that will be undertaken by LETI on behalf of CLX's subsidiary products includes market research and a plan for distribution in the European market.
"We are extremely pleased to announce LETI Laboratories as our targeted master distributor for the European market and look forward to the Letter of Intent, which we expect to be executed very shortly," commented Vera Leonard, chief executive officer of CLX Medical. "LETI is a highly capable and well established company and has significant expertise in the European market. Our association is expected to provide a number of distinct advantages for CLX as we pursue widespread distribution for our subsidiary products and additional medical diagnostic tests that we may choose to acquire or license. LETI will be an excellent partner for CLX as we seek to expand distribution of our products in the European market."
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About CLX Medical, Inc.
CLX Medical, Inc. (www.clxinvestments.com) holds a 51% equity interest in Zonda, Inc., which has developed rapid point of care tests for medical and non-medical markets, and CLX recently announced a letter of intent to acquire another rapid diagnostic device for the medical market. 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 Medical, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Medical's 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.
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Source: CLX Medical, Inc.