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Endeavor Power Corporation Completes Its Merger with Parallax Diagnostics, Inc.

Tue, 12/18/2012 - 8:45am
The Associated Press

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec 18, 2012--Endeavor Power Corporation (“Endeavor Power” or the “Company”) (OTCQB: EDVP) would like to bring its shareholders up to date on the Company’s completion of the merger between its wholly owned subsidiary, Endeavor Holdings, Ltd. and Parallax Diagnostics, Inc. a bio-medical company in the point of care diagnostics business.

Parallax Diagnostics, Ltd (“Parallax”) is a bio-medical company focused on infectious diseases, which owns a line of proprietary, FDA approved, Point of Care diagnostic tests on a single proprietary platform. Parallax is developing a novel, handheld diagnostic testing system that is simple, rapid and elegant, offering the potential to transform the diagnostic landscape by transitioning critical tests from the centralized lab directly to the hands of the physician or clinicians. Our focus is on tests that detect and/or monitor infectious diseases. The Company’s tests combine innovative technologies that provide accessible, practical and rapid point of care in vitro diagnostics are based on the Company’s Target System, its FDA Approved Platform that centered on the Target System VT1000, an FDA Approved bench top fluorescence immunoassay spectrum analyzer and its innovative flow through Target System test cartridges.

In addition to the Target System VT 1000 the Company currently owns 11 FDA 510K tests in the area of infectious disease. The tests included are a test Rubella-Cube, Blue Dot Tm Test (pregnancy), Cmv-Cube, First Sign (pregnancy), Rota-Cube (rotavirus), Target Strep A (streptococcus Spp.), V-Trend Target Im Test (infectious Mobnonucleosis), Target Aso Test, Target-Hcg, Target Quantitative Hcg.

ABOUT ENDEAVOR POWER CORPORATION. Endeavor Power Corp is a fully reporting Nevada corporation traded on the OTCQB under the symbol “EDVP.QB”. The Company is headquartered in Cambridge, MA. Parallax Diagnostics, Ltd (“Parallax”) is a bio-medical company focused on infectious diseases, which owns a line of proprietary, FDA approved, Point of Care diagnostic tests on a single proprietary platform. Parallax is developing a novel, handheld diagnostic testing system that is simple, rapid and elegant, offering the potential to transform the diagnostic landscape by transitioning critical tests from the centralized lab directly to the hands of the physician or clinicians. Our focus is on tests that detect and/or monitor infectious diseases. The Company’s tests combine innovative technologies that provide accessible, practical and rapid point of care in vitro diagnostics are based on the Company’s Target System, its FDA Approved Platform that centered on the Target System VT1000, an FDA Approved bench top fluorescence immunoassay spectrum analyzer and its innovative flow through Target System test cartridges. Parallax Diagnostics, Inc. is a Nevada corporation and a wholly owned subsidiary of Endeavor Power Corp. For more information: www.endeavorpowercorp.com or visit Endeavor Power Corp. on Facebook, Twitter, and You Tube.

FORWARD-LOOKING STATEMENTS This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Endeavor Power Corporation Kyle W. Withrow kylew@endeavorpower.com or Capital Group Communications Mark Bernhard, 415-332-7200 mark@capitalgc.com KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY INFECTIOUS DISEASES PROFESSIONAL SERVICES FINANCE GENERAL HEALTH SOURCE: Endeavor Power Corporation Copyright Business Wire 2012 PUB: 12/18/2012 08:45 AM/DISC: 12/18/2012 08:45 AM http://www.businesswire.com/news/home/20121218005374/

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