SOURCE: CLX Medical, Inc.

CLX Medical, Inc.

February 18, 2009 09:15 ET

CLX Medical, Inc. Announces New Stock Symbol and Plans to File Quarterly and Annual Financials

MURRIETA, CA--(Marketwire - February 18, 2009) - CLX Medical, Inc. (PINKSHEETS: CLXM), which is focused on the marketing and distribution of unique medical diagnostic testing products including ThyroTest®, an FDA cleared screening device for hypothyroidism, has announced that the company has been assigned a new stock symbol and will begin trading as CLXM as of the open of trading today. The company previously traded under the OTC BB symbol CLXNE.

In addition to its symbol change, a reverse split of the company's issued and outstanding common stock on the basis of one share for 2,000 shares became effective today. The reverse split was sought by the company's Board of Directors in order to position CLX Medical to acquire ThyroTest®, a rapid thyroid stimulating hormone (TSH) screening device used for the detection of hypothyroidism in adults, a common thyroid disease. Majority shareholder approval for the reverse split was received in July 2008, and the company did subsequently close the acquisition of ThyroTest®.

CLX Medical is currently implementing its ThyroTest® marketing program and is seeking to establish distribution of the product with a national U.S. distributor. ThyroTest® is FDA cleared and has also achieved CLIA waived status, so the test can be administered in the more than 100,000 CLIA waived doctors' offices in the U.S., as well as in any non-waived laboratory.

"This restructure of the company's common stock was deemed necessary to complete the acquisition of ThyroTest® as well as to move the marketing and distribution program for the product forward," stated Patrick Edgerton, Chairman of the CLX Medical Board of Directors. "We are pleased to have reached this stage and now expect to establish our primary U.S. distribution relationship, so that ThyroTest® can be made available to doctors' offices, clinics and others in the U.S. medical market."

CLX also announced that in order to keep shareholders up-to-date on the revenue growth that it expects from the sales of the ThyroTest® product, the company will begin the process of reporting its quarterly and annual financial information through the Pink Sheets OTC Disclosure and News Service. By reporting this information, the company will be placed in the "Current Information" category at www.pinksheets.com.

The company will receive this designation by meeting the applicable requirements set for by Pink OTC Markets Inc., which operates www.pinksheets.com and related websites. The requirements include subscribing to the OTC Disclosure and News Service; publishing disclosure that complies with the guidelines contained in "Pink OTC Markets' Guidelines for Providing Adequate Current Information," including the posting of quarterly and annual financial statements through the OTC Disclosure and News Service; publishing a quarterly letter from an attorney stating that the issuer's disclosure meets specified requirements and identifies the person responsible for the preparation of the financial statements; and maintaining an SEC registered transfer agent. Quarterly and annual financial statements must be prepared in accordance with U.S. GAAP requirements but are not required to be audited.

"CLX management believes that the Pink Sheets OTC Disclosure and News Service is a more appropriate venue for the company to report its financial information at this time. This method will allow the company to significantly reduce its financial reporting costs while maintaining a high degree of transparency. We will continue to evaluate the company's status in the public markets and explore any opportunities to bring the CLX Medical story to a larger audience," Mr. Edgerton said.

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About CLX Medical, Inc.

CLX Medical, Inc. (www.clxmedical.com) holds a 51% equity interest in Zonda, Inc. (www.zondaincusa.com), which has developed several rapid point of care tests for medical and non-medical markets, including a rapid test for chlamydia. CLX has also recently closed its acquisition of ThyroTest®, a rapid thyroid stimulating hormone (TSH) screening device used for the detection of hypothyroidism in adults, a common thyroid disease. CLX Medical is focused on the successful worldwide distribution of these and any additional products it may acquire or license.

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 Information

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