CombiMatrix Announces Partnership With ProPath to Provide Products of Conception Testing
Chromosomal Microarray Testing for Miscarriage Analysis Offers Valuable Information About Future Pregnancies
IRVINE, Calif., Jan. 14, 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 ProPath® to provide its chromosomal microarray analysis (CMA) testing for miscarriage analysis for ProPath patients. ProPath, based in Dallas, is a wholly physician-owned provider of pathology services to clinicians, hospitals, reference laboratories and medical facilities nationwide.
ProPath Women's Health Director, Kenneth E. Youens, M.D., said that ProPath is committed to providing comprehensive, high quality diagnostics services and CMA testing for miscarriage analysis. Also called Products of Conception (POC) testing, this will be an important new addition to ProPath's suite of women's health diagnostics.
"For an important group of patients, CMA testing can play a significant role in a comprehensive miscarriage analysis," Dr. Youens said. "At ProPath, we set a very high standard in terms of offering the most advanced testing and diagnostic services. The accuracy, clinical utility and quick turnaround times of CMA testing makes it a superior first tier testing option. We are very excited to offer CMA testing for miscarriage analysis and to be working closely with CombiMatrix to provide this important service."
CombiMatrix President and CEO, Mark McDonough noted that the partnership with ProPath is yet another validation of the quality of diagnostic services that CombiMatrix provides and the importance of CMA testing in the modern healthcare market. "CMA testing for genetic abnormalities is quickly becoming the standard of care at leading diagnostic labs throughout the country," McDonough said. "CMA is especially important in the case of stillbirths or miscarriages because it can provide parents valuable information about future pregnancies. We look forward to working closely with the physicians and clinicians at ProPath."
ProPath is the premier team of pathologists providing outpatient anatomic and full-service, hospital-based pathology services to physicians, surgery centers, hospitals and reference laboratories nationwide. With headquarters in Dallas, Texas, our practice and internationally recognized Immunohistochemistry laboratory have some of the most competitive turnaround times for routine specimens. ProPath is a wholly physician-owned pathology group that remains devoted to comprehensive, quality diagnostic services for unsurpassed patient care. We have been providing reliable and
convenient pathology services since 1966. ProPath is accredited by the College of American Pathologists (CAP), and the Department of Human Services in Accordance with the Clinical Laboratory Improvement Amendments of 1988 (CLIA). We follow comprehensive quality control and quality improvement programs. Our team of nearly 40 board certified pathologist has subspecialty training and expertise in Dermatopathology, Renal Pathology, Hematopathology, Gastrointestinal Pathology, Urologic Pathology, Immunohistochemistry, Cytopathology, Surgical Pathology, Breast Pathology and Molecular Diagnostics. For more
information about ProPath, please visit http://www.propath.com.
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support for the highest quality of care - specializing in miscarriage analysis, prenatal and pediatric healthcare. CombiMatrix offers comprehensive testing services for the detection of genetic abnormalities at the DNA level, beyond what can be identified through traditional methodologies. The Company performs genetic testing utilizing advanced technologies, including microarray, FISH, PCR and G-Band chromosome analyses. 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 ProPath 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 ProPath 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:
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Allen & Caron
Tel (949) 474-4399
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
Source: CombiMatrix Corporation
News Provided by Acquire Media