Acacia Research Subsidiary, CombiMatrix, Completes Major Milestone in Strategic Alliance with Roche.Business Editors PASADENA, Calif.--(BUSINESS WIRE)--Jan. 8, 2002 Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family). Research Corporation (Nasdaq:ACRI) announced today that its majority owned subsidiary, CombiMatrix, has completed a major milestone in its strategic alliance with Roche Applied Science. CombiMatrix has demonstrated several key performance metrics Performance metrics are measures of an organizations activities and performance. Performance metrics should support a range of stakeholder needs from customers, shareholders to employees [1]. of its custom in-situ microarray system. CombiMatrix is developing a hybridization-reader instrument for the fully automated processing and imaging of microarrays contained in closed monocassettes. The CombiMatrix chip technology enables flexible and fast custom manufacturing of microarrays by in-situ oligo synthesis. Under the terms of the agreement, Roche will purchase and market the hybridization-reader instrument, flexible custom arrays, and pre-designed "catalogue" arrays in combination with its own matching labeling and hybridization hybridization /hy·brid·iza·tion/ (hi?brid-i-za´shun) 1. crossbreeding; the act or process of producing hybrids. 2. molecular hybridization 3. reagents as well as bioinformatic tools. In phase two of the agreement, Roche will market CombiMatrix' desktop synthesizers and will use production synthesizers for their own manufacturing of microarrays. Dr. Amit Kumar, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CombiMatrix, stated, "Achievement of these critical milestones reflects the progress we have made since announcing our alliance with Roche Applied Science. Our goal is for CombiMatrix and Roche Diagnostics Roche Diagnostics Division is a subsidiary of Hoffmann-La Roche which manufactures equipment and reagents for research and medical diagnostic applications. Internally, it is organized into six major business areas: Roche Applied Science, Roche Centralized Diagnostics, Roche to make this platform the standard for microarray research as well as molecular diagnostics." Dr. Susanne Raehs, Head of Roche Applied Science, stated, "The CombiMatrix chip is a unique platform for a broad range of applications. It will substantially reduce the time and cost required to identify and develop pharmaceutical products and improve the diagnosis of complex diseases like cancer." ABOUT COMBIMATRIX CombiMatrix is developing a platform technology that has a wide range of applications, from DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. synthesis/diagnostics to immunochemical im·mu·no·chem·is·try n. The chemistry of immunologic phenomena, as of antigen-antibody reactions. im detection. The platform allows the company to rapidly produce customizable active biochips, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The company is designing its products principally to be responsive to the needs of pharmaceutical, biotechnology, and academic researchers in analyzing raw genomic data in the discovery and development of pharmaceutical products. CombiMatrix's Web site is located at www.combimatrix.com. ABOUT ACACIA RESEARCH CORPORATION Acacia Research develops, licenses and provides products for the life science and media technology sectors. Acacia licenses its V-chip technology to television manufacturers and owns pioneering technology for digital streaming and video-on-demand. Acacia's CombiMatrix subsidiary is developing a bio-chip technology for the life science market. Acacia Research's Web site is located at www.acaciaresearch.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , recent and forthcoming Quarterly Reports on Form 10-Q Form 10-Q See 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. |
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