CV Technologies, the maker of cold and flu remedy Cold-FX, is rebranding itself as Afexa Life Sciences Inc.
“The new name better reflects that we are a life sciences company, and makes that clearer to our shareholders, our customers and employees,” explained Afexa COO Ross Montagano. The CV Technologies’ name (the CV stands for cardiovascular) dates back to a University of Alberta spin-off company founded in 1992 by current company president Jacqueline Shan.
Steve Wallace, Afexa’s vice-president of marketing, said the new name was created to more strongly link the company to its most successful and widely used product, Cold-FX.
“We want the new brand to be a launching pad and driver for new products. Now we won’t have to say that this new product comes from the people who make Cold-FX. The Afexa brand will tell them that.”
Wallace said the company will be launching several new “preventative, naturally derived” products this fall, which is also when the new brand will debut on all packaging. In the interim, the company will rely mainly on PR and direct communication to stakeholders to promote the new name.
The Afexa brand was unanimously approved at last Friday’s shareholder meeting followed a year-and-a-half of development that included intensive consumer research, said Wallace. The rebranding strategy, which also included a new packaging and brand identity for Cold-FX introduced last fall, was created by Toronto’s Level 5 Strategic Branding.
Afexa also announced Monday the creation of seven 2010 Olympic pins bearing the Cold-FX name.
Joannie Rochette, silver medalist at last week’s World Figure Skating Championships, who is sponsored by Cold-FX, is featured on one of the pins.
