Dr. John H. Abeles Joins CombiMatrix Scientific Advisory Board
Since 1992, Dr. Abeles has been a Founder and investor in several investment funds for both venture capital and public equities, whose investments were centered around healthcare and medical equipment companies. He also presently serves as a Managing Member of a New York based investment fund focused on healthcare investments.
“The molecular-based tests CombiMatrix is developing will provide invaluable comprehensive information unavailable in today's diagnostic medicine. I am excited to have the opportunity to offer my experience and guidance at such a pivotal point in CombiMatrix's future.”
"The CombiMatrix CustomArray(TM) Synthesizer's ability to fabricate high density DNA microarrays on the benchtop of any laboratory, is a landmark advantage in the advancement of molecular-based diagnostics," said Dr. Abeles. "The molecular-based tests CombiMatrix is developing will provide invaluable comprehensive information unavailable in today's diagnostic medicine. I am excited to have the opportunity to offer my experience and guidance at such a pivotal point in CombiMatrix's future."
"John has been a practicing physician, an investor, and board member of public companies. This combination of skills and experience is difficult to find and will be very valuable to us at a time when we are preparing to launch our first cancer-based diagnostic products," said Dr. Amit Kumar, President and CEO of CombiMatrix.
Dr. Abeles presently serves on the board of directors for I-Flow Corporation (Nasdaq:IFLO), DUSA Pharmaceuticals (Nasdaq:DUSA), CytoCore, Inc. (Nasdaq:MCDG) and Oryx Technology (Nasdaq:ORYX). Dr. Abeles also serves as an Advisory Board Member of the College of Chemistry, University of California, Berkeley, and is on the Advisory Board of the Higuchi BioSciences Institute at the University of Kansas.
Dr. Abeles received his medical degree as well as a degree in Pharmacology from the University of Birmingham, England, in 1969. He is a Fellow of the Royal Society of Medicine, London.
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 customizable arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The CombiMatrix 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 46 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(R)), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, high resolution optics, image resolution enhancement, interactive data sharing, interactive television, hearing aid ECS, interstitial Internet advertising, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, network data storage, resource scheduling, rotational video imaging and spreadsheet automation.
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.