CLX has been informed that the study will take longer to complete than originally planned. We do not have a revised estimate of completion at the moment but expect that it will be within a few weeks or, at best, several days.
Vera Leonard, chief executive officer of Zonda and CLX, commented, "While we expected to have results of the in vitro validation study ready to report to shareholders and the public markets by mid-June, adequate growth of chlamydia cells has not yet been achieved. Unpredictability is unfortunately an inherent element of any clinical study process, so this delay does not come as a complete surprise. Living organisms utilized in a clinical study are, by their very nature, somewhat unpredictable. Quite simply, the bacteria do not always cooperate.
"Our original estimate of the amount of time required to complete the validation study included the time to acquire chlamydia samples, and the issue with the samples has obviously delayed the completion of the study. The laboratory is working hard to acquire appropriate samples so we can complete the study as soon as possible. We are committed to keeping our shareholders informed and will provide updates including specific timelines whenever possible," Ms. Leonard added.
CLX currently holds a majority interest in Zonda, whose tests utilize proprietary technology that detects enzymes that are specific to the target microorganisms and are ideal for the clinical laboratory, point of care, and the over-the-counter (OTC) markets. Zonda's chlamydia product has been distributed in Europe for approximately three years.
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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.
Contact: Gemini Financial Communications, Inc. A. Beyer 951-677-8073
