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Recent estimates by the President's Council of Advisors on Science and Technology indicate that millions of U.S. citizens might contract Swine flu, and nearly 1.8 million individuals might be hospitalized, with up to 90,000 deaths in the U.S. during this flu season. World-wide, there are already several hundred thousand confirmed cases, and the World Health Organization has declared a pandemic. Although some of these estimates might be high, the numbers clearly indicate that this viral disease is a major public health concern. Because Swine flu can be a rapidly mutating virus, concerns exist about mutations that might make it more pathogenic while maintaining its highly infectious nature.
"We are pleased to be working with BAMC to evaluate the genetic drift of the Swine flu virus," stated Dr. Amit Kumar, President and CEO of CombiMatrix. "Our influenza array has demonstrated its ability to provide tremendous genetic information regarding numerous infectious agents including Bird Flu, Swine flu, and other infectious agents. It is especially significant to note that our Influenza-Detection System was developed with funding from the U.S. Department of Defense, and it is now being used to evaluate infections in military, former-military, and government personnel. Also, we encourage interested parties to review information on the website of the U.S. Centers for Disease Control and Prevention to get an understanding of the limitations of currently available flu tests, especially what we feel is poor performance of many rapid flu tests," concluded Dr Kumar. The link for this information is as follows: http://www.cdc.gov/h1n1flu/guidance/diagnostic_tests.htm
According to Dr. Gerald Merrill, Laboratory Director for the Department of Clinical Investigation at BAMC, "We are already seeing a high percentage of novel H1N1 flu cases in the San Antonio military community this season. The CombiMatrix system allows us to screen for Swine flu versus seasonal influenza A and influenza B. Samples analyzed using the CombiMatrix system from last season allowed us to look at clustering of genotypes and to see patterns suggesting genetic drift in both the novel H1N1 Swine flu virus and the seasonal influenza A virus in San Antonio. This can be useful in spotting divergence of strains and possibly in identifying problems earlier than if we did not screen for such divergence," concluded Dr. Merrill.
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: Jeffrey Stanlis, Partner (602) 476-1821 jeff@haydenir.com
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