CombiMatrix Appoints Robert E. Hoffman to Board of Directors
17 Julio 2013 - 5:00AM
CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics
company performing DNA-based testing services for developmental
disorders and cancer diagnostics, today announced that veteran
healthcare and finance executive Robert E. Hoffman has been
appointed to the Board of Directors, effective immediately.
Hoffman, 47, fills a current vacancy on the Board, which with his
appointment is now made up of seven directors.
Hoffman has broad financial experience in the biopharmaceuticals
sector. He is Senior Vice President, Finance and Chief Financial
Officer of Arena Pharmaceuticals, Inc. (Nasdaq:ARNA), a San
Diego-based biopharmaceutical company focused on discovering,
developing and commercializing novel drugs that target G
protein-coupled receptors, or GPCRs, to address unmet medical
needs. BELVIQ® (lorcaserin HCl), Arena's internally discovered
drug, is approved in the United States, and is under review for
regulatory approval in additional territories.
Since joining Arena in 1997, Hoffman has served in various
finance and accounting roles that have involved Arena's IPO,
follow-on financings and transition to a commercial-stage company.
In addition, he has served as CFO of Polaris Group, a privately
held drug development company. Hoffman is a member of the business
and financial advisory board of La Jolla, CA-based Innovus
Pharmaceuticals, a publicly-traded emerging pharmaceuticals
company.
"We are pleased to welcome Robert to our Board at this very
important time for CombiMatrix," said R. Judd Jessup, Chairman of
the CombiMatrix Board of Directors. "We see the prenatal molecular
diagnostic market is growing rapidly, in particular chromosomal
microarray analysis, in which we specialize. Robert's financial
expertise will be especially useful as we seek to expand into major
markets throughout the U.S. and continue to establish strategic
corporate partnerships with regional pathology groups. We look
forward to working closely with Robert during these important
stages of our expected growth."
Hoffman serves on the Financial Accounting Standards Board's
Small Business Advisory Committee and the steering committee of the
Association of Bioscience Financial Officers. He is also a member
and former director and president of the San Diego Chapter of
Financial Executives International. Hoffman has a bachelor's degree
in business administration from St. Bonaventure University and is
licensed as a C.P.A. (inactive) in the state of California.
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 abnormalities of genes at the DNA
level beyond what can be identified through traditional
technologies. The Company performs genetic testing utilizing
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 "see," "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 our growth,
the growth of our markets, our expansion into major markets and our
strategic corporate partnerships. 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: market
acceptance of our services; the rate of our growth and the growth
of our markets; 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
Media Contact:
Len Hall
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
len@allencaron.com
Investor Relations Contact:
John Baldissera
BPC Financial Marketing
Tel (800) 368-1217
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