CombiMatrix Announces LI Path Now Offering Company's Miscarriage Analysis Testing
May 13 2014 - 5:00AM
CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics
company specializing in DNA-based testing services for
developmental disorders and cancer diagnostics, today announced
that Long Island Pathology (LI Path) is now offering its patients
CombiMatrix's chromosomal microarray analysis (CMA) testing for
miscarriage analysis. LI Path, based in East Setauket, New York, is
a physician-led diagnostic pathology laboratory serving the New
York, New Jersey and northeastern Pennsylvania areas.
LI Path, which is currently in the midst of an expansion
initiative, is an established part of the regional clinical and
anatomic pathology network in the Tri-State area around New York.
Gynecologic pathology is one of LI Path's specialties.
"Patients are becoming much more advanced in their knowledge and
awareness of how genetic testing can provide them important
information about their pregnancies, and we are very excited to be
able to offer CMA testing to help them understand the potential
genetic cause of a failed pregnancy and factors for their continued
efforts," said Hal Rose, Managing Partner of LI Path, which in
addition to its main laboratory in East Setauket also has a
satellite laboratory in Southampton, New York. LI Path provides
testing for physicians, hospital laboratories, endoscopy centers
and surgery centers. "We believe in the growing importance and
clinical advantages of CMA and look forward to working with
CombiMatrix."
CombiMatrix President and CEO Mark McDonough noted that the
relationship with LI Path is an important part of the Company's
strategy to build on its advantageous position and success in CMA
testing and to focus on laboratory partnerships.
"Building relationships with regional labs like LI Path is a key
part of our national growth strategy, particularly those that
specialize in gynecological pathology," McDonough said.
"Miscarriage analysis is a rapidly growing testing market and, as
in other areas of prenatal genetic analysis, microarray analysis is
becoming the standard of care."
Miscarriage analysis testing, also called Products of Conception
testing, is a subset of the overall prenatal testing market. It
allows OB/GYN physicians and clinicians to better determine if
there is a genetic cause for a miscarriage or other related
event.
About LI Path
LI Path is an independent diagnostic and consultative clinical
and anatomic pathology laboratory located in East Setauket and
Southampton, New York. LI Path is dedicated to providing top level
diagnostic pathology services in a cost effective and efficient
manner. The laboratory's pathologists are certified by the American
Board of Pathology with multiple areas of sub-specialties and are
active members of the community. Additional information about LI
Path is available at www.lipath.com or by calling
1-(888)-454-7284
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 LI Path
physicians. 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 LI
Path patients; market acceptance of CMA as a superior method of
molecular diagnostic testing; 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
President
Allen & Caron Inc
(949) 474-4300
rene@allencaron.com
Media Contact:
David Schull or Lena Evans
RussoPartners LLC
(212) 845-4271
david.schull@russopartnersllc.com
lena.evans@russopartnersllc.com
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