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Acacia Research Corporation (NASDAQ: ACTG) (NASDAQ: CBMX) announced today that industry veteran, Dindyal Ramkissoon has been appointed Vice President of Sales and Marketing of its CombiMatrix group's subsidiary, Combimatrix Molecular Diagnostics, Inc. (CMDX). Mr. Ramkissoon, one of the cytogenetics industry's most accomplished sales and marketing executives, will be responsible for leading CMDX's marketing initiatives for its innovative molecular diagnostics business and for assembling CMDX's national sales organization.
"CMDX has worked toward assembling the industry's most comprehensive microarray-based diagnostic testing service menu," said Dr. Mansoor Mohammed, President and CEO of CombiMatrix Molecular Diagnostics. "With the addition of Mr. Ramkissoon, we have completed our initial operating management team, and we seek to attain our goal of becoming the industry's premiere genetic testing center of excellence."
"I have spent practically my entire professional career, over 25 years, in the genetic and cytogenetic diagnostics arena and have been instrumental in establishing the competencies of several of the leading laboratories nation wide," said Mr. Ramkissoon. "I have always prided myself on being attuned to the leading edge of my industry and I have no doubt that the technologies and tests developed and espoused by CMDX, represent the future of molecular diagnostics. I am extremely impressed by the team at CMDX, the technology, the currently marketed products as well as the products in the pipeline. After considerable due diligence on my part, it is with confidence and pleasure that I accept my new role at CMDX and I look forward to building the industry's premiere sales and marketing team."
In 1980 Mr. Ramkissoon launched his career in Cytogenetics under the leadership of world renowned Cytogeneticist Dr. T.C. Hsu at MD Anderson Cancer Center in Houston. He co-authored several publications with Dr. Hsu and was assigned on major projects such as Agent Orange Chromosome Breakage Study of Vietnam Veterans and NASA Chromosome Breakage Baseline Study. In 1987, Mr. Ramkissoon joined Perceptive Systems Inc. which later became Perceptive Scientific Instruments (PSI), one of the pioneering companies to develop and manufacture Image Analysis Systems for Cytogenetics testing. Dindyal was the North American Sales Manager when Applied Imaging acquired the company in 2000. At Applied Imaging, he managed the National Accounts in North America, the Distributors in Mexico and Latin America plus the Power Gene product Business Unit winning both quarterly and national awards. In 2002 he joined Cyberonics, an implantation device company that treats epilepsy and major depression, as their Southern Area Accounts Manager. During his four years with Cyberonics, he won many regional and national awards including two years President Club. Following his years at Cyberonics, he joined Applied Spectral-Imaging (ASI). Dindyal left ASI as U.S. Sales Manager, and joined CMDX in 2007. In 1980 Mr. Ramkisssoon graduated from Winona State University in Minnesota with a BA degree in Biology.
About Acacia Research Corporation
Acacia Research Corporation comprises two operating groups: Acacia Technologies Group and CombiMatrix Group.
The CombiMatrix group is developing a platform technology to rapidly produce tailored-content arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The CombiMatrix's group's 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.
The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 66 patent portfolios covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud protection, database management, data encryption & product activation, digital media transmission (DMT®), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, resource scheduling, spreadsheet automation, and user activated Internet advertising.
Acacia Research-Acacia Technologies (NASDAQ: ACTG) and Acacia Research-CombiMatrix (NASDAQ: CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups.
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 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.
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Acacia Research Corporation
Dr. Amit Kumar, 425-493-2200
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