CombiMatrix Announces Distribution Agreement with Universal Diagnostic Laboratories for Miscarriage Analysis Testing
August 10 2016 - 6:00AM
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.
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CombiMatrix
Contact: Mark McDonoughPresident & CEO, CombiMatrix
Corporation(949) 753-0624
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CombiMatrix Investor
Relations Contact:LHAJody Cain(310) 691-7100jcain@lhai.com |
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Universal Diagnostic
LaboratoriesMichael MosunicPresident & COO, Universal
Diagnostic Laboratoriesmmosunic@udlab.com(760) 809-8056 |
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