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Dr. Kumar's topic will be, "Molecular Diagnostics in the Evaluation and Management of Cancer." He will discuss the Company's innovative and proprietary Comprehensive Cancer Array (CCA) product, which is expected to provide a unique approach for simultaneously measuring the existence and abundance of specific biomarkers that are linked to tumor growths in different organs.
Dr. Kumar stated, "Billions are spent developing drugs for patients that have relatively advanced stage cancer, but the greatest impact, by orders of magnitude, on cancer survivability is early detection. Despite this fact, the resources allocated to developing simple, non-invasive screening technologies is minimal, relative to R&D efforts on drugs. We believe this product will enable doctors to detect cancers earlier, and because it is non-invasive, requiring only a blood draw, we are optimistic that uptake will be fast and compliance will be high."
This product is in development and a target launch date is the third quarter of 2010. The presentation will include a discussion of scientific data, including peer-reviewed, published data.
ABOUT THE NANOBUSINESS ALLIANCE
The NanoBusiness Alliance's mission is to create a collective voice for the advancing nanotechnology industry and develop a range of initiatives to support the nanotechnology business community. Among the NanoBusiness Alliance's goals are the development of research and education programs, public policy and lobbying initiatives, public awareness campaigns, and industry support networks. The NanoBusiness Alliance has locations in New York, NY and Chicago, IL and soon will be opening an additional office in Washington, DC. For additional information, please visit http://www.nanobusiness.org.
ABOUT COMBIMATRIX CORPORATION
CombiMatrix Corporation is a diversified biotechnology business that develops proprietary technologies, including products and services in the areas of drug development, genetic analysis, molecular diagnostics, nanotechnology and defense and homeland security markets, as well as in other potential markets where our products and services could be utilized. The technologies we have developed include a platform technology to rapidly produce user-defined, in-situ synthesized, oligonucleotide arrays for use in identifying and determining the roles of genes, gene mutations and proteins. This technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology. Other technologies include proprietary molecular synthesis and screening methods for the discovery of potential new drugs. Combimatrix Molecular Diagnostics, Inc. ("CMDX"), our wholly owned subsidiary located in Irvine, California, has developed capabilities of producing arrays that utilize bacterial artificial chromosomes, which also enable genetic analysis. CMDX functions primarily as a diagnostics reference laboratory. Leuchemix Inc. ("Leuchemix"), a minority owned subsidiary, is developing a series of compounds to address a number of oncology-related diseases. Leuchemix's first compound has entered initial clinical trials.
Additional information about CombiMatrix Corporation is available at www.combimatrix.com or by calling 1-800-985-CBMX (2269). Additional information about CMDX is available at www.cmdiagnostics.com or by calling 1-800-710-0624.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: CombiMatrix Corporation
CONTACT: CombiMatrix Corporation Amit Kumar, Ph.D., President & CEO (425) 493-2000 Fax: (425) 493-2010 Hayden IR Investor Relations Contact: Jeffrey Stanlis, Partner (602) 476-1821 jeff@haydenir.com
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