MUKILTEO, Wash., June 4, 2008 (PRIME NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX) announced today that its subsidiary, Combimatrix Molecular Diagnostics (CMDX), has results from a multi-institute evaluation of its HemeScan(tm) test for CLL that were accepted for publication by the journal, Expert Opinions in Molecular Diagnostics (2008) 2(6): 1-10. The study, which was led by Dr. Shelly Gunn, Medical Director of CMDX, and which included collaborators from the prestigious M.D. Anderson Cancer Center, Texas, the Netherlands Cancer Institute, Amsterdam, and the University of Texas Health Science Center, San Antonio, evaluated over 170 patients with chronic lymphocytic leukemia (CLL) by the HemeScan test. The results of the study concluded that CMDX's HemeScan test is a powerful and cost-effective tool for genome-wide risk assessment in the clinical evaluation of CLL.
"This article is the first peer-reviewed publication of the clinical evaluation of an array CGH (Comparative Genomic Hybridization) diagnostics test addressing cancer. CombiMatrix is pleased to be the first to have launched a CGH array for cancer and now, is pleased to have completed this clinical study, which enables another first for the company," noted Dr. Mansoor Mohammed, President and CEO of CombiMatrix Molecular Diagnostics. "We are also pleased to have completed this study in collaboration with several leading cancer researchers and their institutes. This study is the first in what we anticipate to be a series of publications, which will clearly establish the clinical utility of CMDX's suite of oncology tests."
Dr. Shelly Gunn, Medical Director of CMDX, notes, "The publication of peer-reviewed studies is a hallmark of legitimizing new diagnostic tests and their concomitant platforms. Publications have set the standard for the use of new medical innovations." Dr. Gunn further adds, "I am proud to have contributed, together with Dr. Mohammed, pioneering publications documenting the use of array CGH in solving clinical diagnostic challenges, and I am equally proud to now author the first study documenting the use of this transformatory technology toward solving diagnostic challenges, in a commercial setting, for the oncology arena".
Mr. Ron Andrews, CEO of Clarient (Nasdaq:CLRT), commented, "As I have previously noted, we evaluated several leading platforms and tests before deciding upon CMDX's HemeScan test as a suitable addition to our world class portfolio of cancer diagnostics. This recent publication by CMDX validates our assessment of the HemeScan test for CLL and fits with our model of launching the most comprehensive and robust diagnostic test menu in the industry."
ABOUT COMBIMATRIX CORPORATION
We are a diversified biotechnology business, through 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. We have also developed the capabilities of producing arrays that utilize bacterial artificial chromosomes on our arrays, also enabling genetic analysis. 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.
Additional information about CombiMatrix Corporation is available at www.combimatrix.com or by calling 1-800-985 CBMX (2269). Additional information about our laboratory, CombiMatrix Molecular Diagnostics, is available at www.cmdiagnostics.com or by calling 1-800-710-0624.
About Clarient
Clarient combines innovative technologies with world class expertise to assess and characterize cancer. Clarient's mission is to provide the services, resources and critical information to improve the quality and reduce the cost of patient care as well as accelerating the drug development process. The Company's principal customers include pathologists, oncologists, hospitals and biopharmaceutical companies. The rise of individualized medicine as the new direction in oncology has created the need for a centralized resource providing leading diagnostic technologies such as flow cytometry and molecular testing. Clarient is that resource, having created a state-of-the-art commercial cancer laboratory providing the most advanced oncology testing and drug development services available both onsite and over the web. Clarient is a Safeguard Scientifics, Inc. partner company. www.clarientinc.com
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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 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.