MURRIETA, CA--(MARKET WIRE)--Aug 21, 2007 -- CLX Investment Company, Inc. (OTC BB:CLXN.OB - News) today announced an initial agreement in the form of a letter of intent to acquire the remaining issued and outstanding shares of Zonda, Incorporated, which develops and manufactures unique diagnostic tests for both the medical and non-medical markets. Once the remaining due diligence is complete, the companies expect to reach a definitive agreement regarding the acquisition.
Zonda’s tests utilize proprietary technology that detects enzymes that are specific to the target microorganisms. The Zonda medical diagnostic tests are ideal for the clinical laboratory, point-of-care, and the over-the-counter (OTC) markets.
Zonda’s strong intellectual property position in enzymatic detection technology will give the company a unique position in the clinical diagnostic market where there is increasing need for simple, reliable, and cost-effective rapid point-of-care diagnostic tests. The company’s first medical test, for Chlamydia, is expected to launch in the U.S. at the end of the first quarter 2008. Zonda believes it will compete successfully with all current technologies, including the “gold standard” nucleic acid amplification testing (NAAT) technology, while offering several enhanced features.
CLX recently acquired an additional 10% of the issued and outstanding shares of Zonda, bringing its total equity position to 41%. Under terms of the letter of intent, the result of the transaction is expected to result in CLX acquiring the remaining 59% of Zonda.
“Zonda is an ideal acquisition candidate for CLX, and we look forward to rapidly completing the due diligence process, so a definitive agreement can be executed as soon as possible,” stated Steven R. Peacock, consultant chief executive officer of CLX Investment Company.
Zonda recently appointed Vera Leonard, who has considerable successful experience in leadership positions with major medical manufacturing and distribution companies, as its new chief executive officer.
“We expect that the combination of Zonda’s innovative testing products and strong, experienced leadership will allow the company to become a significant player in the diagnostic testing industry. For these reasons, we have targeted Zonda to become the focus of operations in CLX Investment Company,” added Mr. Peacock.
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About CLX Investment Company
CLX Investment Company (www.clxinvestments.com) holds a 41% 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.
Contact: Gemini Financial Communications A. Beyer 951-677-8073
Source: CLX Investment Company, Inc.
