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CombiMatrix Corporation (Nasdaq:CBMX) announced today that the Agency for Health Protection and Promotion in Ontario, Canada has, during the 2007-2008 influenza season, verified the function of CombiMatrix's Influenza-Detection system.
In the study, the CombiMatrix system achieved 95.2% sensitivity and 100% selectivity, and it was stated, "In conclusion the CombiMatrix influenza detection system is an effective method for influenza A subtype analysis. Its ease of operation makes it suitable for laboratories with a limited budget or limited molecular knowledge." The results are published in the Virology Journal ("Verification of the CombiMatrix influenza detection assay for the detection of influenza A subtype during the 2007-2008 influenza season in Toronto, Canada," by Bolotin, Lombos, Yeung, Eshaghi, Blair, and Drews, Virology Journal 2009, 6:37, 25 March 2009) and will be available at this link: www.virologyj.com/content/6/1/37
"Canada's Ontario Agency for Health Protection and Promotion is a prestigious, world-class health organization devoted to, among other health areas, epidemiology, prevention and control of disease outbreaks, and surveillance. We are very pleased that they are a customer of our Influenza-Detection system and are especially interested in their evaluation," said Dr. Amit Kumar, President and CEO of CombiMatrix. "We feel that our system is a good match for health agencies wanting to monitor strains of influenza that move in populations. Such a system can help with determining strains to focus upon for vaccine development, can help to spot if non-vaccine strains are starting to propagate, and, importantly, can help to spot if potentially dangerous strains such as H5N1 bird flu are starting to appear. The system's portability and ease of use, allowing new staff to be up to speed quickly in running it, can also provide rapid deployment to locations of need. This system was developed under funding from the U.S. Department of Defense, and has been purchased by military and civilian laboratories for monitoring infectious agents, including bio-threat agents."
Dr. Kumar continued, "The performance of our array technology platforms has been demonstrated in a number of studies, many of which have been published recently. We are looking forward to additional studies, which help drive product development and sales of our products and services. We expect our platform's level of performance to eventually enable the launch of our non-invasive cancer-screening test, which is planned for 2010."
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.
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.
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.
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Investor Relations Contact:
Amit Kumar, Ph.D., President & CEO
Fax (425) 493-2010
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