CombiMatrix Molecular Diagnostics and Array Genomics Collaborate to Expand Diagnostic Microarray Technology Internationally; CMDX Enters the Molecular Diagnostics Arena with Its First Product.NEWPORT BEACH, Calif. -- Acacia Research Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CBMX) (NASDAQ:ACTG ACTG Acting ACTG AIDS Clinical Trial Group ACTG Actuating/Actuator ) announced today that its CombiMatrix group's subsidiary, CombiMatrix Molecular Diagnostics (CMDX), and Array Genomics Inc. (AG), Nr. Paris, France, will co-develop, market, and sell an exciting new series of comparative genomic hybridization hybridization /hy·brid·iza·tion/ (hi?brid-i-za´shun) 1. crossbreeding; the act or process of producing hybrids. 2. molecular hybridization 3. (CGH) microarray products and services internationally, using expertise and technology from both companies. The initial products, which will be manufactured in the U.S. by CMDX and distributed in Europe by AG, are a series of arrays for the diagnosis of mental retardation anomalies. It is anticipated that the arrays will begin generating revenue for both companies within the next several weeks. Array-based CGH is a powerful analytical approach, which utilizes an ordered set of human 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. clones in a microarray format to detect unbalanced chromosome rearrangements associated with both constitutional and acquired genetic maladies and syndromes. When compared to conventional cytogenetic cytogenetic /cy·to·ge·net·ic/ (-je-net´ik) 1. pertaining to chromosomes. 2. pertaining to cytogenetics. cytogenetic pertaining to or originating from the origin and development of the cell. approaches, array-based CGH reduces the time associated with the clinical analysis and detection of chromosomal imbalances, while dramatically increasing the resolution of detection. "Over the last several years we have been highly involved with emerging technologies in the clinical cytogenetics cytogenetics /cy·to·ge·net·ics/ (-je-net´iks) the branch of genetics devoted to cellular constituents concerned in heredity, i.e. chromosomes. arena, and in particular with array-based CGH initiatives. We are excited to be able to work with CMDX's high performance CGH array platform to enhance the quality of the technology to our customers," said Mr. Ian Jones, General Manager of Array Genomics, a leader in the development and distribution of products and services for clinical cytogenetics in Europe and internationally. "CMDX is positioning itself to become a leader in the burgeoning molecular diagnostics marketplace," stated Matt Watson, 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 CMDX. "In addition to selling our CGH products in Europe and other countries abroad, we intend to begin offering molecular diagnostic testing services at our Irvine, CA-based clinical laboratory. These tests will be run as laboratory developed tests, also known as the "Home Brew Products that are developed at home by hobbyists. " tests, and will primarily be based on CGH and gene expression profiling (GEP GEP gastroenteropancreatic. ) technologies. We also intend to file a number of our proprietary tests with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. for approval to market them within the U.S. as IVD products. We are pleased to be able to offer these and future products and services to the market after only 9 months in business and we look forward to expanding our technology base and increasing our sales going forward." "We are pleased to be expanding our capabilities in Array CGH, which is very complementary to our CustomArrays, said Dr. Amit Kumar, President and CEO of CombiMatrix. "We also are pleased to be expanding the scope of our business to include mental retardation in addition to our cancer focus. We anticipate that we will continue to expand into other disease areas." ABOUT ARRAY GENOMICS A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. incorporated in England, with its European offices and laboratories in Paris, France. The founders are former managers of highly respected genomic companies having already founded several companies in the biotechnology area. More information can be obtained by visiting their website at www.arraygenomics.com. ABOUT ACACIA RESEARCH CORPORATION Acacia Research Corporation comprises two operating groups, Acacia Technologies group and CombiMatrix group. The CombiMatrix group is developing a platform technology to rapidly produce customizable arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The CombiMatrix's group's 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. The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 41 patent portfolios, which include over 150 U.S. patents, and certain foreign counterparts, covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. protection, database management, data encryption & product activation, digital media transmission (DMT See DSL. (R)), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, hearing aid ECS See eComStation. , image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, network data storage, resource scheduling, rotational video imaging, spreadsheet automation, user activated Internet advertising and web conferencing & collaboration software. Acacia Research-Acacia Technologies (NASDAQ:ACTG) and Acacia Research-CombiMatrix (NASDAQ:CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups. Information about the Acacia Technologies group and the CombiMatrix group is available at www.acaciaresearch.com. Safe Harbor Statement under the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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 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. 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 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. |
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