CombiMatrix Launches Next Generation Sequencing for Pre-Implementation Genetic Screening
June 01 2016 - 6:00AM
CombiMatrix Corporation (NASDAQ:CBMX), a molecular diagnostics
company specializing in DNA-based testing services for
pre-implantation genetic diagnostics and screening, miscarriage
analysis, prenatal and pediatric diagnostics, announces that it
will begin accepting samples for pre-implantation genetic screening
(PGS) by next generation sequencing (NGS) in mid-June.
PGS is a test performed on embryos of couples
undergoing an in vitro fertilization (IVF) procedure and is
designed to examine embryos for chromosomal abnormalities prior to
implantation. This procedure reduces the risk for miscarriage and
abnormal pregnancies and increases the success rate of the
implantation and of a normal pregnancy. The NGS technology now
being adopted by CombiMatrix and made available for all PGS testing
provides unparalleled accuracy and sensitivity in the detection of
both whole chromosome and segmental aneuploidies. Comprehensive
coverage of the entire genome achieves increased clarity and higher
resolution of both chromosomal and sub-chromosomal alterations. The
highly streamlined workflow also reduces turnaround time for
reported test results.
“PGS testing provides valuable information for
family planning decision making and supports healthy pregnancies,"
said Mark McDonough, President and Chief Executive Officer of
CombiMatrix. “PGS testing by NGS adds another accretive assay to
our IVF offering and complements our current reproductive health
diagnostics portfolio. This will allow us to build on momentum in
our miscarriage analysis and prenatal diagnostics testing
businesses with our established customers. As with all of
CombiMatrix’s tests, we will provide our signature high-touch
service model for this test that includes the genetic counseling
support that is critical for complicated cases.
“We estimate the U.S. market for PGS at
approximately $75 million annually and growing as more physicians
and families recognize the benefits of this information,” he added.
“This new offering is expected to drive our PGS testing volume
through new customer adoption and improve gross margins as
procedure volumes increase. As the vast majority of PGS testing is
self-paid, this testing will also support our high cash
reimbursement rate, which is an important aspect of our business
model. We look forward to leveraging our NGS capabilities to bring
other value-added tests to market in the coming months and
years.”
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: adoption and market
acceptance of our next generation sequencing test offering, 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.
Company Contact: |
Investor Relations Contact: |
Mark McDonough |
LHA |
President & CEO, CombiMatrix
Corporation |
Jody Cain |
(949) 753-0624 |
(310) 691-7100 |
|
jcain@lhai.com |
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