Afexa Life Sciences Inc.

Afexa Life Sciences Inc.

January 18, 2006 09:15 ET

CV Technologies-Maker of COLD-fX®-Reports Net Sales of $18.9 Million for Q1 and Applies for TSX Listing

EDMONTON, ALBERTA--(CCNMatthews - Jan. 18, 2006) - CV Technologies Inc. (CVT) (TSX VENTURE:CVQ), maker of COLD-fX®, today reported preliminary net sales figures of $18.9 million for the first quarter of fiscal 2006. This represents an increase of $7.6 million over first quarter sales of $11.3 million for the same period last year.

CV Technologies President and CEO, Dr. Jacqueline Shan said, "We are very pleased with these results which reflect the success of our increased marketing programs and distribution networks, primarily in eastern Canada. The recent launch of CELL-fX®, for the relief of joint pain, also contributed to our sales growth."

The company also reported it has filed an application to be listed on the Toronto Stock Exchange, Canada's premier exchange. CV Technologies has been listed on the TSX Venture Exchange since 2001 and was selected as the Exchange's top performing company in 2005.

Dr. Shan said, "Graduating to the Toronto Stock Exchange will be a significant accomplishment for our company. We have shown a strong track record of business management in a time of rapid growth and we feel this is the right time to move to the senior exchange. A listing on the TSX can bring our company more visibility, attract analysts and institutional investors and offer more stability to the Company in the capital markets."


CV Technologies, founded in 1992, is a global leader in the development and commercialization of naturally derived, evidence based, clinically tested, medicines for disease prevention and health maintenance. CVT's lead product - COLD-fX®, - the top selling cold and flu remedy in Canada according to ACNielsen, strengthens the immune system and is widely used as a leading anti-cold, anti-flu, non-prescription treatment. COLD-fX's unique, patented, mechanism of action was developed and standardized according to the Company's ChemBioPrint ® process. The CBP® process precisely identifies the chemical profile and biological activity of multi-active components in natural compounds. The CBP® process provides a manufacturing protocol that ensures each batch of compound delivers verifiable and provable health benefits.

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "intends", "expects" and similar expressions are intended to identify forward-looking statements. Such risks and uncertainties include, but are not limited to, the need for capital, changing market conditions, completion of clinical trials, patient enrolment rates, uncertainty of pre-clinical, retrospective and early clinical trial results, the establishment of manufacturing processes and new corporate alliances, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time to time in the Company's filings with Canadian securities authorities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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