Healthcare Industry News: genetic analysis
News Release - November 10, 2006
CombiMatrix Molecular Diagnostics Announces the Launch of Powerful New Melanoma Test
NEWPORT BEACH, Calif.--(HSMN NewsFeed)--Acacia Research Corporation (Nasdaq:CBMX ; Nasdaq:ACTG ) announced today that its CombiMatrix group's subsidiary, CombiMatrix Molecular Diagnostics, Inc. (CMDX) has launched a new test that discriminates malignant melanoma from benign moles. The test, based on CombiMatrix Corporation's CustomArray® platform, is a powerful new molecular diagnostic tool that enables pathologists to resolve difficult-to-diagnose cases through an objective genetic analysis.This test will be introduced to the melanoma community at the 10th Anniversary Benefit of the William S. Graham Foundation for Melanoma Research, Inc. being held in San Francisco on November 11, 2006. CombiMatrix is the corporate sponsor for this event and a corporate sponsor for the organization. More information is available at http://www.bfmelanoma.com/gala06.html.
"This exciting new test represents a breakthrough in the field of dermatology," said Dr. Scott Binder, M.D., Professor of Clinical Pathology and Dermatology, Chief of Dermatopathology, and Senior Vice Chairman at the David Geffen School of Medicine at UCLA. "As a dermatopathologist I am often called upon to make very difficult decisions regarding whether or not a patient has malignant melanoma, particularly after traditional laboratory methods have failed to provide a clear diagnosis. This test from CombiMatrix Molecular Diagnostics provides me with a powerful new tool to help resolve many of these tough cases."
"Melanoma is the fastest growing cancer in the United States, and like most cancers early identification and detection is an important factor in survival. We are encouraged that this new test is now available to physicians and patients in our battle against this often fatal disease," said Karen Graham, the Founder and Chairperson of the William S. Graham Foundation for Melanoma Research. "I founded the William S. Graham Foundation in honor of my son, Billy, who died as a result of the mis-diagnosis of melanoma. Had this test been available then, the outcome might have been different."
"We are very excited about the release of this powerful new diagnostic service," said Matt Watson, CEO of CombiMatrix Molecular Diagnostics. "This is the second microarray service that we have launched in as many calendar quarters, and it is only the first in a broad menu of array-based cancer tests that we hope to release in the near future."
"We have now launched a test based on our Bacterial Artificial Chromosome Platform (see http://www.combimatrix.com/pr/090506.pdf) and a test based on our CustomArray-brand oligomer-based microarray platform," stated Dr. Amit Kumar, President and CEO of CombiMatrix and Chairman of CombiMatrix Molecular Diagnostics. "To our knowledge, we are the only company that has both of these capabilities."
ABOUT THE WILLIAM S. GRAHAM FOUNDATION FOR MELANOMA REASEARCH, INC-
The Primary activities for this 501-C3, non-profit foundation are to raise funds in support of research designated to finding the cure for the later stages of the deadly disease, Malignant Melanoma; to educate the public regarding the cause and prevention; and through specific public awareness programs assist in the early detection of this insidious, potentially lethal cancer. More information at: www.bfmelanoma.com or Toll Free: 1-888-88-BILLY.
ABOUT ACACIA RESEARCH CORPORATION
Acacia Research Corporation comprises two operating groups, Acacia Technologies group and CombiMatrix group.
The CombiMatrix group is developing a platform technology to rapidly produce CUSTOMARRAYS(TM), which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The CombiMatrix's group's technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology.
The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 53 patent portfolios, which include U.S. patents and certain foreign counterparts, covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud protection, database management, data encryption & product activation, digital media transmission (DMT®), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, hearing aid ECS, image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, network data storage, resource scheduling, rotational video imaging, spreadsheet automation, user activated Internet advertising and web conferencing & collaboration software.
Acacia Research-Acacia Technologies (Nasdaq:ACTG ) and Acacia Research-CombiMatrix (Nasdaq:CBMX ) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups.
Information about the Acacia Technologies group and the CombiMatrix group is available at www.acaciaresearch.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news 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 and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Source: Acacia Research
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