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CombiMatrix Corporation (Nasdaq:CBMX) announced today that Dr. Karine Hovanes has joined its wholly owned subsidiary, Combimatrix Molecular Diagnostics (CMDX), as its Laboratory Director. Dr. Hovanes is a Diplomat of the American Board of Medical Genetics in Clinical Molecular Genetics and Clinical Cytogenetics and is also licensed in New York and California in both cytogenetics and molecular genetics. Dr. Hovanes joins CMDX from Laboratory Corporation of America, otherwise known as LabCorp.
"It is a pleasure for me to join the expert management and extended scientific team of Combimatrix Molecular Diagnostics. Array CGH testing has been the latest methodology to advance our knowledge of the human genome and has significantly contributed to the fields of genomic research and medical diagnostics. While there are undoubtedly several diagnostic service laboratories attempting to establish themselves as esoteric genome test providers, few have the legitimate claim to innovative leadership that CMDX does," said Dr. Hovanes. "I am certain that the microarray platforms and test menu offered by CMDX are ideally positioned to enable physicians to make better treatment decisions regarding their patients and enormously contribute to clinical research and discovery. The sentiments and referrals that I have received from several of CMDX's growing portfolio of customers confirm my assessment of CMDX," concluded Dr. Hovanes.
"I am delighted by the addition of Dr. Hovanes to our already stellar staff of medical and clinical experts," said Dr. Mansoor Mohammed, President and Chief Executive Officer of CMDX. "Dr. Hovanes brings an impressive set of clinical diagnostic expertise to our company, which spans the molecular and cytogenetic underpinnings of both oncology and childhood development disorders and ideally mirror our industry leading portfolio of tests. The appointment of Dr. Hovanes helps us ensure that we can continue to deliver our industry leading quality of service with unsurpassed turn-around times and client-customized services, in spite of our growing test menu and concomitant increase in monthly test volumes," concluded Dr. Mohammed.
Dr. Hovanes earned her Ph.D. from the University of California, Irvine, and then completed her postdoctoral clinical training in both cytogenetics and molecular genetics at the Intercampus Medical Genetics Training Program of the University of California, Los Angeles. Dr. Hovanes's academic accomplishments are highlighted by the fact that she was a recipient of both a predoctoral grant from the NCI (National Cancer Institute) and a postdoctoral grant from the NIH (National Institute of Health). Prior to joining CMDX, Dr. Hovanes was the Assistant Laboratory Director at Esoterix and subsequently the Assistant Laboratory Director at U.S. Labs (acquired by LabCorp). Dr. Hovanes joins the clinical and medical staff at CMDX that include, Dr. Shelly Gunn, M.D., Ph.D., Medical Director; Dr. Ryan Robetorye, M.D., Ph.D., Associate Medical Director; Dr. Phil Cotter, Ph.D., Associate Laboratory Director; and Dr. Mercedes Gorre, Ph.D., Vice President of Scientific Affairs.
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.
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.
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Investor Relations Contact:
Amit Kumar, Ph.D., President & CEO
Fax (425) 493-2010
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