IRVINE, Calif., March 13, 2014 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq: CBMX ), a molecular diagnostics company specializing in DNA-based testing services for developmental disorders and cancer diagnostics, today announced that it has been selected by American Pathology Partners (AP2) to provide its chromosomal microarray analysis (CMA) testing for miscarriage analysis to AP2 patients. American Pathology Partners is creating a nationwide network of leading anatomic pathology laboratories.
The partnership between AP2 and CombiMatrix begins effective immediately with UniPath, AP2's flagship laboratory based in Denver.
AP2 CEO Sami Abbasi noted that given AP2's longstanding specialization in women's health, CMA testing for miscarriage analysis -- also called Product of Conception (POC) testing -- is a natural extension of AP2's product offerings. "Our goal is to provide the best patient care possible and to that end we are very pleased to be working with an advanced laboratory like CombiMatrix that specializes in CMA testing and has become a leader in the POC testing market. We believe this partnership will prove to be beneficial for both AP2's referring clinicians and their patients."
CombiMatrix's POC test is the Company's fastest-growing test in terms of volumes, noted Mark McDonough, CombiMatrix President and Chief Executive Officer. Recently published data, including a major National Institutes of Health study, has shown the superiority of CMA over traditional karyotyping for identifying significant genetic abnormalities. "Chromosomal microarray testing is proving to be a tremendously important tool in helping to identify the causes of miscarriages as well as assisting in future pregnancies," McDonough said.
"An important part of our growth strategy is to partner with large, leading pathology networks such as AP2, particularly as the national healthcare market learns about the benefits of CMA testing in miscarriage analysis," McDonough said. "Working closely with AP2 will help extend our customer base to the nation's leading pathologists. It also allows us to demonstrate the value and depth of our genetic diagnostic laboratory services in the markets where AP2 thrives. As a leader in the comprehensive testing for the detection of genetic abnormalities, we are pleased to be partnering with AP2 going forward."
About American Pathology Partners
American Pathology Partners is an emerging nationwide network of leading anatomic pathology laboratories serving physician offices, hospitals, and surgery centers. Founded in early 2008, APP provides academic-caliber medical consults and interpretation services through its affiliated pathologists. APP's board-certified pathologist partners have extensive training and experience in numerous subspecialty areas, including surgical pathology, cytopathology, dermatopathology, hematopathology, urologic pathology, gastrointestinal and liver pathology, nephropathology, pediatric and perinatal pathology, immunopathology, and molecular diagnostics. Additional information can be found at www.AP2.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 miscarriage analysis, prenatal testing and pediatric genetics, 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 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 1-800-710-0624.
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," "objective," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding the access to our services for American Pathology Partners members. 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: use of our services by AP2 members; market acceptance of CMA as a preferred method over karyotyping; the rate of transition to CMA from karyotyping; our ability to successfully expand the base of our customers and strategic partners, add to the menu of our diagnostic tests in both of our primary markets, develop and introduce new tests and related reports, optimize the reimbursements received for our testing services, and increase operating margins by improving overall productivity and expanding sales volumes; our ability to successfully accelerate sales, allow access to samples earlier in the testing continuum, steadily increase the size of our customer rosters in both developmental medicine and oncology; our ability to attract and retain a qualified sales force; rapid technological change in our markets; changes in demand for our future products; legislative, regulatory and competitive developments; 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: Mark McDonough President & CEO, CombiMatrix Corporation Tel (949) 753-0624 Investor Contact: Rene Caron Allen & Caron Tel (949) 474-4399 Media Contact: Len Hall VP, Media Relations, Allen & Caron Tel (949) 474-4300
