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CombiMatrix Corporation (Nasdaq:CBMX) today announced that Dr. Amit Kumar's presentation at the DxRx Summit: Nucleic Acid Diagnostics & Therapeutics in Boston, Massachusetts, held on May 13, 2009 is now available on its website. The presentation titled, "Non-Invasive, Array-Based Screening for Cancer" can be downloaded and reviewed by interested parties. Viewing and downloading instructions are provided below.
"We are pleased with the initial progress we have made with the development of this test," stated Dr. Amit Kumar, President and CEO of CombiMatrix Corporation. "We feel that this test when launched will have great market potential and tremendous implications regarding the approach to cancer, because of its non-invasive nature."
CombiMatrix's goal is to complete the research and development phase for the first version of the array by the end of the third quarter of 2009. While the initial focus is on colon, lung, breast, ovarian, and prostate cancers, CombiMatrix has not yet publicly disclosed the specific cancers which will be on the first version of the test. By the end of 2009, the final protocols, assay development and quality control metrics are expected to be complete. During the first half of 2010, CombiMatrix hopes to complete clinical trials in anticipation of a commercial launch during the third quarter of 2010. In parallel with the development of this array, CombiMatrix will be engaged in partnership discussions with third parties. Subsequent to launch, CombiMatrix expects to expand the scope and power of the array by incorporating additional oncology markets, and the Company will also conduct additional internal and external clinical trials.
It is important to note that this test is not a risk factor test for cancer, which identifies those at elevated risk of contracting a cancer. Instead, this test is being developed to perform as a screening test that is designed to identify those patients that potentially have a growing tumor at the time that the test is administered. Upon indication of a positive result, it is expected that the patient's physician will follow-up with additional tests to obtain a definitive diagnosis.
CombiMatrix encourages those who are interested in this test to review the presentation and to contact the Company if there are questions.
Dr. Kumar's presentation can be viewed on CombiMatrix's website at www.combimatrix.com (select the "Investors" tab, then "Events & Presentations"), or by using this link: investor.combimatrix.com/DxRxSummit.cfm.
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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