MUKILTEO, Wash., Feb. 15, 2008 (PRIME NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX) announced today that industry veteran, Dr. Kavita Reddy, has joined CombiMatrix Molecular Diagnostics (CMDX) as its Laboratory Director. Dr. Reddy 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.
"I have served in a directorship role for several of the industry's largest clinical diagnostics providers, including most recently, as the Senior Director of Genzyme Genetics Manhattan," said Dr. Reddy. "Throughout the course of my career, I have paid particular attention to cutting-edge methodologies within the sphere of medical genetics, and none have held my fascination as much as genome-based microarray technologies. Those who are well-informed have recognized that the latter is transforming how we view medical diagnostics. I am convinced that the robust and innovative genome microarray platforms and diverse test menu of CMDX is perfectly positioned to lead the industry in this rapidly growing market segment," concluded Dr. Reddy.
"I am delighted that Dr. Reddy has joined our company," said Dr. Mansoor Mohammed, President and Chief Executive Officer of CMDX. "Dr. Reddy has published numerous peer reviewed articles across a broad spectrum of genetic diagnostic topics, and she is a primary reference in the genetic diagnosis of hematological malignancies. Our ability to attract such high caliber talent is a potent endorsement of our credibility and business model. I look forward to the additive expertise of Dr. Reddy as we grow our business, particularly as we add to our innovative menu of genomics-based oncology tests," concluded Dr. Mohammed.
Dr. Reddy earned her Ph.D. from the Bangalore University, India, and was then awarded a Welcome Trust Postdoctoral fellowship to the prestigious MRC Radiobiology Unit of the United Kingdom. Dr. Reddy joins CMDX from Genzyme Genetics Manhattan where she was Senior Director. Dr. Reddy has also been Associate Director and Scientific Director with Quest Diagnostics Inc. at the Nichols Institute and has been a consultant with the City of Hope Cancer Center and US Labs (now Laboratory Corporation of America). She has been the recipient of the Achievement of Excellence award from Quest Diagnostics as well as the Young Scientist award from the Indian Society of Human Genetics and has published numerous peer reviewed articles in the field of molecular diagnostics.
ABOUT COMBIMATRIX CORPORATION
CombiMatrix Corporation is a diversified biotechnology business, having its focus on the development of proprietary technologies, products and services in the areas of drug development, genetic analysis, molecular diagnostics, nanotechnology research, defense and homeland security markets, as well as other potential markets where our products and services could be utilized. The technologies we have developed include a platform technology to rapidly produce customizable, 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"), a wholly owned subsidiary of the Company located in Irvine, California, has developed capabilities of producing arrays that utilize bacterial artificial chromosomes, which also enable genetic analysis.
Additional information about CombiMatrix Corporation is available at www.combimatrix.com or call toll free: 1-800-710-0624.
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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, 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.