IRVINE, Calif., June 20, 2013 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company performing DNA-based testing services for developmental disorders and cancer, today announced that it has been selected by Pathology, Inc. to be its exclusive provider of chromosomal microarray tests for the Products of Conception (POC) testing market throughout the United States. POC testing, also referred to as miscarriage testing, is a subset of the overall prenatal testing market.
The announcement is an expansion of the previous strategic partnership between the two companies announced in November 2012 that gave Pathology, Inc. the right to market and distribute microarray tests on behalf of CombiMatrix in the states of California and Nevada, as well as the St. Louis and Chicago metropolitan areas.
"The partnership has been very beneficial for both parties to date, and I believe it will benefit our physician partners and their patients to extend the working relationship we have established with CombiMatrix," said Vicki DiFrancesco, President and CEO of Pathology, Inc., a full service, independent Women's Health laboratory based in Torrance, California. "The POC market is an important segment of women's health for Pathology, Inc. and we are pleased to be working with an advanced laboratory like CombiMatrix that specializes in microarray testing. We believe this market is going to continue to expand as our physician customers and their patients realize the importance of microarray testing in helping to identify the causes of miscarriages and how that information may assist in future pregnancies."
CombiMatrix President and Chief Executive Officer Mark McDonough said, "The expansion of this partnership underscores the rapidly expanding importance of microarray testing and the value our team brings to Pathology, Inc. in terms of operational and analytical support. Pathology, Inc. is one of the leading women's health labs in the nation and we are very pleased to be recognized by these experts as a valuable partner.
"Working closely with Pathology, Inc. allows us to extend our customer base of OB/GYNs and provides us with additional marketing and distribution support. Our relationship will only become more important as the national healthcare market learns about the benefits of chromosomal microarray testing," continued McDonough.
About Pathology, Inc.
Pathology, Inc. is a full-service provider of anatomic and clinical pathology testing services, with a 30-year foundation in the Women's Health market. With expertise in molecular and digital pathology, the Company has built a solid reputation for quality and customer service with clients that include OB/Gyns, dermatologists, urologists, gastroenterologists, and family practitioners, as well as surgicenters, endoscopy centers, hospitals, and independent laboratories. Pathology, Inc. is located at three separate facilities; its Torrance headquarters, a second facility in Templeton, CA (Central Coast Clinical Laboratories) and a third laboratory in Wood Dale, IL. All three facilities are CLIA certified and CAP accredited. Pathology, Inc.'s pathologists, through its association with Affiliated Pathologists Medical Group (APMG), are board certified and have a variety of multi-specialty interests and expertise, as well as extensive cumulative experience in outpatient pathology. Pathology, Inc. has provided pathology services to physician offices and pathologists for over 25 years.
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," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management's future business, operational and strategic plans, momentum of our pre-natal and pediatric businesses, test menu expansion, services and reports development and attracting greater prenatal genetic screening business. 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: our ability to gain more market share, capitalize on markets and grow shareholder value; 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 in both developmental medicine and oncology; lack of growth in the developmental markets; our ability to attract and retain a qualified sales force; rapid technological change in our markets; changes in demand for our future products; the ability of microarray technology to become the standard of care; 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 Tel (949) 753-0624 Media Contact: Len Hall VP, Media Relations Allen & Caron Tel (949) 474-4300 firstname.lastname@example.org Investor Relations Contact: John Baldissera BPC Financial Marketing Tel (800) 368-1217