CombiMatrix and Marubeni Form Joint Venture in Japan.Business Editors & High-Tech Writers BIOWIRE2K PASADENA, Calif.--(BW HealthWire)--Oct. 29, 2001 Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family). Research Corp. (Nasdaq:ACRI) today announced that its majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , CombiMatrix Corp., has formed a joint venture with Marubeni Japan, one of Japan's leading trading companies. The joint venture, based in Tokyo, will focus on development and licensing opportunities for CombiMatrix's biochip biochip Small-scale device, analogous to an integrated circuit, constructed of or used to analyze organic molecules associated with living organisms. One type of theoretical biochip is a small device constructed of large organic molecules, such as proteins, and capable of technology with pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. in the Japanese market. Marubeni has provided the funding for the operations and management team by acquiring a minority interest in the joint venture. "Marubeni has a strong tradition of enabling partnerships and alliances within the Japanese market," commented CombiMatrix 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. Dr. Amit Kumar. "Our goal is to build a leadership position for CombiMatrix's technology in the genomic, proteomic and antibody markets by partnering with Japanese pharmaceutical and biotechnology companies." "CombiMatrix's new-generation microarray is truly impressive," commented Toshio Nakagawa, COO, Chemicals Group, Marubeni Corp. "We are convinced this new technology will enable breakthrough caliber research due to its unique application flexibility and data generation efficacy. We believe that CombiMatrix's superior technology, complemented by Marubeni's marketing strength in the Far East, will provide a solid foundation for tackling the up-and-coming biochip market in Japan." Marubeni has been one of the most aggressive Japanese trading companies in investing in emerging industries such as the biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. and biochemical industries. Within the biotech industry, Marubeni has established an especially strong presence by creating a subsidiary called BErevno Corp. Marubeni Corp. is a general trading company, and one of Japan's leading trading houses that operates more than 200 overseas offices and 600 affiliates worldwide. Marubeni acts not only as an intermediary in all types of trade between enterprises and countries, but also as major financiers and large-scale organizers with total transactions of US$100 billion in 2000. For more information on Marubeni, visit the company's Web site at www.marubeni.com. About Acacia Research Corp. Acacia Research develops and operates life science and enabling technology companies. The company's core technology opportunity has been developed through its subsidiary, CombiMatrix Corp. Acacia Research intends to build and acquire companies in the life science and material science fields that will utilize CombiMatrix's biochip technology. Acacia Research's Web site is located at www.acaciaresearch.com. About CombiMatrix Corp. CombiMatrix Corp. is developing a platform technology that allows the company to rapidly produce customizable active biochips, which are semiconductor-based tools for use in identifying and determining the physiological functions of genes, gene mutations Noun 1. gene mutation - (genetics) a mutation due to an intramolecular reorganization of a gene point mutation genetic science, genetics - the branch of biology that studies heredity and variation in organisms and proteins. This active biochip technology should provide for an enterprise-wide solution for pharmaceutical, biotechnology and medical diagnostics companies to perform genomic- and proteomic-based research. CombiMatrix's Web site is located at www.combimatrix.com. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant to the "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. " 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, and are not a guarantee of future performance. Actual results could differ materially as a result of a variety of factors, including factors expressed from time to time in the company's periodic filings with the Securities and Exchange Commission. This release should be read in conjunction with those filings. |
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