MUKILTEO, Wash., Oct. 15, 2008 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX) announced today that microRNA expert Dr. Muneesh Tewari has joined the Scientific Advisory Board of CombiMatrix. Dr. Tewari is in the Human Biology division at the Fred Hutchinson Cancer Research Center.
"I am delighted to have Dr. Tewari on our Scientific Advisory Board," said Dr. Amit Kumar, President and Chief Executive Officer of CombiMatrix. "Last week, I discussed CombiMatrix's project and plans for the Comprehensive Cancer Array(tm) -- an array-enabled test, using a blood sample to screen for multiple types of cancer based on microRNA markers. Dr. Tewari is an expert in the fields of cancer and microRNAs and, we feel, the world's leading researcher specifically on the topic of cancer-related, blood-borne microRNAs. We are excited about him joining our SAB, and we are excited about the Comprehensive Cancer Array project. We feel that there is a potential $12 billion per year market for such a non-invasive test, given as part of regular physical exams, much like the PSA test is today." More information about this revolutionary new product can be found in a webcast that may be accessed on CombiMatrix's website, www.combimatrix.com, in the Investor/Events section (http://investor.combimatrix.com/events.cfm).
"Early detection, at a stage when cancer is curable by surgery, could dramatically reduce mortality caused by most common cancers. An ideal solution would be detection by a simple blood test. MicroRNAs are well-known to be dysregulated in cancer and could form the basis for such a test, but until recently, detecting tumor-derived microRNAs required an invasive sampling of cancer tissue. Showing that tumor-derived microRNAs circulate in a stable form in the blood and that they are present in differing amounts between -healthy individuals and cancer patients was the subject of my and my colleagues' work published in the July 28th issue of the Proceedings of the National Academy of Sciences. Successful development of such blood-based detection could have a revolutionary impact upon detection and outcomes of cancer, and I am pleased that CombiMatrix is working in this direction." Some public information about Dr. Tewari's work can be found at the following link: http://www.sciencentral.com/video/2008/07/28/cancer-blood-tests/.
Dr. Tewari earned both an M.D. and a Ph.D. from the University of Michigan. Following his internship and residency at the University of Michigan Medical Center, he went on to train as a clinical and research fellow at Dana-Farber Cancer Institute in Boston. He subsequently joined the faculty at Harvard Medical School as an Instructor and served in various clinical capacities including Staff Physician at the Dana-Farber Cancer Institute, Affiliate Physician at Massachusetts General Hospital, and Associate Physician at Brigham and Women's Hospital (all affiliates of Harvard Medical School). He currently has a laboratory at the Fred Hutchinson Cancer Research Center, where his group pursues basic and translational studies of microRNAs in cancer.
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.
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.