IRVINE, Calif., Nov. 18, 2014 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company specializing in DNA-based testing services for pre- and postnatal developmental disorders, today announced the launch of CombiPGS™, a preimplantation genetic screening (PGS) test for women undergoing in vitro fertilization (IVF). CombiPGS allows couples to screen embryos for chromosomal abnormalities prior to implantation of the embryo in order to maximize the chance of successful implantation and pregnancy progression and to decrease the likelihood of a miscarriage.
"With the launch of CombiPGS, we are applying our industry leading experience with array technology and our high-touch clinical support to a lucrative cash-pay market that is estimated to be $30 million annually and growing," said Mark McDonough, President and Chief Executive Officer of CombiMatrix. "The Reproductive Endocrinologist/IVF physician is an important call point for us. We now will offer both our fastest growing product, the CombiSNP™ Array for Pregnancy Loss, and the CombiPGS test to these clinicians and clinics. Our plan is to leverage our established commercial infrastructure and expertise to grow these two product lines as we engage both our current fertility clinic customer base and new fertility clinic prospects."
CombiMatrix will begin accepting embryo samples, for fresh and frozen transfer, beginning December 1, 2014.
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support for the highest quality of care – specializing in miscarriage analysis, prenatal and pediatric healthcare. CombiMatrix offers comprehensive testing services for the detection of abnormalities of genes at the DNA level beyond what can be identified through traditional technologies. The Company performs genetic testing utilizing microarray, FISH, PCR and G-Band chromosome analyses. Additional information about CombiMatrix is available at www.combimatrix.com or by calling 1-800-710-0624.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press 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, speak only as of the date hereof and are subject to change. All statements, other than statements of historical fact included in this press release, are forward-looking statements. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "goal," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," "objective," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include, but are not limited to: market acceptance of our new CombiPGS test with reproductive endocrinologists and fertility clinics, our ability to successfully expand the base of our customers and strategic partners, add to the menu of our diagnostic tests in both of our primary markets, develop and introduce new tests and related reports, optimize the reimbursements received for our testing services, and increase operating margins by improving overall productivity and expanding sales volumes; our ability to successfully accelerate sales, steadily increase the size of our customer rosters; our ability to attract and retain a qualified sales force; rapid technological change in our markets; changes in demand for our future services; legislative, regulatory and competitive developments; general economic conditions; and various other factors. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, Quarterly Reports of Form 10-Q, and in other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law.
CONTACT: Company Contact: Mark McDonough President & CEO, CombiMatrix Corporation (949) 753-0624 Investor Contact: Robert Flamm, Ph.D. Russo Partners, LLC (212) 845-4226 firstname.lastname@example.org Media Contact: David Schull or Lena Evans Russo Partners LLC (212) 845-4271 email@example.com firstname.lastname@example.org