CombiMatrix Announces Partnership With American Pathology Partners to Provide Products of Conception Testing
March 13 2014 - 6:00AM
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.
CONTACT: Company Contact:
Mark McDonough
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Investor Contact:
Rene Caron
Allen & Caron
Tel (949) 474-4399
rene@allencaron.com
Media Contact:
Len Hall
VP, Media Relations, Allen & Caron
Tel (949) 474-4300
len@allencaron.com
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