8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K


CURRENT REPORT


PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934



Date of Report (date of earliest event reported): March 25, 2008

Innovex, Inc.

(Exact name of Registrant as Specified in its Charter)

Minnesota

(State Or Other Jurisdiction Of Incorporation)

000-13143	41-1223933
(Commission File Number)	(I.R.S. Employer Identification No.)

3033 Campus Drive, Suite E180 Plymouth, MN	55441
(Address Of Principal Executive Offices)	(Zip Code)

(763) 383-4000

Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Items under Sections 1, 2 and 4 through 8 are not applicable and therefore omitted.

Item 3.01     Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On March 25, 2008, Innovex, Inc. (the "Company") received approval from The Nasdaq Stock Market, Inc. for the transfer of the listing of its common stock from The Nasdaq Global Market to The Nasdaq Capital Market. The Company’s common stock will be transferred to The Nasdaq Capital Market as of the open of business on March 27, 2008. Listing on The Nasdaq Capital Market does not affect the Company’s ticker symbol, which will remain "INVX."

On March 26, 2008, the Company issued a press release regarding the transfer of listing of its common stock to The Nasdaq Capital Market, which press release is attached hereto as Exhibit 99.1.

Item 9.01     Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Press Release dated March 26, 2008 issued by Innovex, Inc.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		INNOVEX, INC.
		By:	/s/ Douglas W. Keller
			Douglas W. Keller
			Vice President, Finance
Date:	March 26, 2008

EX-99.1

Exhibit 99.1

Innovex Transfers Listing to the Nasdaq Capital Market

PLYMOUTH, Minn.--(BUSINESS WIRE)--Innovex (Nasdaq: INVX) (the “Company”) announced that on March 25, 2008, the Company received approval from The Nasdaq Stock Market, Inc. for the transfer of the listing of its common stock from The Nasdaq Global Market to The Nasdaq Capital Market. The Company’s common stock will be transferred to The Nasdaq Capital Market as of the open of business on March 27, 2008. Listing on The Nasdaq Capital Market does not affect the Company’s ticker symbol, which will remain “INVX.”

As previously reported, the Company received a Staff Deficiency Letter from The Nasdaq Stock Market on February 11, 2008 which stated that the Company’s stockholders’ equity at December 29, 2007 was less than the $10 million minimum in stockholders’ equity required for continued listing on The Nasdaq Global Market under Marketplace Rule 4450(a)(3). The notice stated that the Company could, among other things, apply to transfer its common stock to The Nasdaq Capital Market if the Company satisfied the requirements for inclusion on The Nasdaq Capital Market. On March 13, 2008, the Board of Directors authorized management to transfer listing of the Company’s common stock to the Nasdaq Capital Market.

About Innovex, Inc.

Innovex, Inc. is a leading manufacturer of high-density flexible circuit-based electronic interconnect solutions. Innovex’s products enable the miniaturization and increasing functionality of high technology electronic devices. Applications for Innovex’s products include data storage devices such as hard disk drives and tape drives, liquid crystal displays for mobile telecommunication devices, flat panel displays and printers. Innovex is known worldwide for its advanced technology and world class manufacturing.

Safe Harbor for Forward Looking Statements

Except for historical information contained herein, the matters discussed in this press release are forward looking statements that involve risks and uncertainties, including the timely availability and acceptance of new products, impact of restructuring charges, changes in product mix, the impact of competitive products and pricing, effect of world-wide economic conditions on flexible circuit demand, changes in manufacturing efficiencies, fluctuations in financial results, continued cash availability under Company credit facilities and other risks detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.

CONTACT:
Innovex, Inc.
Douglas W. Keller, 763-383-4025
VP - Finance
Facsimile: 763-383-4090
Internet: http://www.innovexinc.com