×

CombiMatrix Announces Distribution Agreement with Universal Diagnostic Laboratories for Miscarriage Analysis Testing

IRVINE and VAN NUYS, Calif., Aug. 10, 2016 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (NASDAQ:CBMX), a family health molecular diagnostics company specializing in DNA-based reproductive health and pediatric testing services, announces that Universal Diagnostic Laboratories will market and distribute CombiMatrix’s chromosomal microarray miscarriage analysis test for the evaluation of multiple pregnancy loss in both Northern and Southern California. Terms of the agreement were not disclosed.

“This is another example of leveraging channel partners to augment our direct sales team’s efforts in expanding the distribution of our tests,” said Mark McDonough, President and Chief Executive Officer of CombiMatrix. “Our miscarriage analysis test is now more accessible to women in our home state of California. We are pleased to partner with Universal Diagnostics Laboratories, which shares our commitment to high-touch, personalized service and excellent turnaround times.”

“This agreement demonstrates execution on a key aspect of our business strategy by expanding our portfolio of molecular diagnostics focused on women’s health,” said Michael Mosunic, President and Chief Operating Officer of Universal Diagnostic Laboratories. “Importantly, this test provides valuable information to women and their families about the reasons behind multiple miscarriages. We are particularly excited about the CombiMatrix test as chromosomal microarray analysis has shown to have superior diagnostic attributes over karyotyping for recurrent pregnancy loss.”

About Universal Diagnostic Laboratories

Universal Diagnostic Laboratories, Inc. is a cutting-edge, full-service reference and esoteric laboratory with a focus in women and men's health testing. The company is dedicated and committed to accuracy, efficiency and comprehensive high-quality services to the physicians, communities and patients throughout California. Personalized service, excellent turnaround time, and easily interpretable reports are key elements of what differentiates the business. The company was founded in 1988 and is based in Van Nuys, Calif. Additional information is available at http://www.udlab.com.

About CombiMatrix Corporation

CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support to foster the highest quality in patient care. CombiMatrix specializes in pre-implantation genetic diagnostics and screening, miscarriage analysis, prenatal and pediatric diagnostics, offering DNA-based testing for the detection of genetic abnormalities beyond what can be identified through traditional methodologies. CombiMatrix performs genetic testing utilizing a variety of advanced cytogenomic techniques, including next generation sequencing, chromosomal microarray, standardized and customized fluorescence in situ hybridization (FISH) and high-resolution karyotyping. CombiMatrix is dedicated to providing high-level clinical support for healthcare professionals in order to help them incorporate the results of complex genetic testing into patient-centered medical decision making. Additional information about CombiMatrix is available at www.combimatrix.com or by calling (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," 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: whether expansion of partners that sell our tests will have a material impact on our revenues or operations; whether adoption and market acceptance of our microarray test offerings for miscarriage analysis will increase or whether third-party payors will expand coverage for this test based on published studies or clinical data, our ability to add to the menu of our diagnostic tests, develop and introduce new tests and related reports, expand and improve our current suite of services, optimize the reimbursements received for our microarray and NGS 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 in both prenatal and developmental genetic testing markets; our ability to attract and retain a qualified sales force in wider geographies; our ability to ramp production from our sales force and our strategic partners; rapid technological change in our markets; changes in demand for our future services; legislative, regulatory and competitive developments; the outcome of pending litigation; 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.

CombiMatrix Contact:
Mark McDonough
President & CEO, CombiMatrix Corporation
(949) 753-0624
CombiMatrix Investor Relations Contact:
LHA
Jody Cain
(310) 691-7100
jcain@lhai.com
Universal Diagnostic Laboratories
Michael Mosunic
President & COO, Universal Diagnostic Laboratories
mmosunic@udlab.com
(760) 809-8056

Source:CombiMatrix Corporation