(Nasdaq:CBMX), a diversified biotechnology business that develops proprietary
technologies, including products and services in the areas of drug development,
genetic analysis, molecular diagnostics, nanotechnology and defense and homeland
security markets, as well as in other potential markets where our products and
services could be utilized, today announced the appointment of Mark McGowan
to the company's Board of Directors.
Mark P. McGowan is the managing member of SAF Capital Management LLC, a value-oriented
investment firm which he founded in November 2006. Prior to forming SAF Capital
Management LLC, Mr. McGowan was Co-founder and Managing Partner of MPG Capital
Management LLC, an equity market research firm which derived and licensed statistically
validated algorithmic trading models and investment strategies for wealthy individuals
and institutional investors. Mr. McGowan previously worked within the Consumer
and Market Knowledge function of Procter & Gamble, where he was instrumental
in shaping marketing strategies for multiple brands, as well as leading Market
Mix Modeling and the development of macroeconomic forecasting capabilities within
Procter & Gamble's Homecare division. Mr. McGowan performed two cooperative
assignments with Johnson & Johnson; working within global operations for
Johnson & Johnson subsidiary Ethicon Endo Surgery and in domestic operations
for Johnson & Johnson's Consumer Products headquarters. Mr. McGowan received
his Bachelor of Science in Microbiology, with a focus in Genomics and Molecular
Genetics, from Michigan State University.
"We are pleased to have Mark join our Board at a time when CombiMatrix
can benefit from his background in marketing, strategy, and analytics at firms
like P&G and Johnson & Johnson," stated Dr. Amit Kumar, President
and CEO of CombiMatrix. "Mark brings a fresh perspective to the company
with his finance expertise, as well as his operational experience at some of
the most respected companies in the world."
"The advancement and adoption of genetic sciences will play an increasingly
significant role in the future diagnosis, prognosis and treatment of cancer
and other diseases," stated Mr. McGowan. "The comparative advantages
of CombiMatrix's molecular diagnostics technology provide an opportunity for
the company to become a vanguard within the field of personalized medicine.
I look forward to working in conjunction with CombiMatrix leadership as we seek
to commercialize these socially important assets while maximizing intrinsic
value on a per share basis for company stakeholders."
CombiMatrix Corporation is a diversified biotechnology business that develops
proprietary technologies, including products and services in the areas of drug
development, genetic analysis, molecular diagnostics, nanotechnology and defense
and homeland security markets, as well as in other potential markets where our
products and services could be utilized. The technologies we have developed
include a platform technology to rapidly produce user-defined, in-situ synthesized,
oligonucleotide arrays for use in identifying and determining the roles of genes,
gene mutations and proteins. This 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.
Other technologies include proprietary molecular synthesis and screening methods
for the discovery of potential new drugs. Combimatrix Molecular Diagnostics,
Inc. ("CMDX"), our wholly owned subsidiary located in Irvine, California,
has developed capabilities of producing arrays that utilize bacterial artificial
chromosomes, which also enable genetic analysis. CMDX functions primarily as
a diagnostics reference laboratory. Leuchemix Inc. ("Leuchemix"),
a minority owned subsidiary, is developing a series of compounds to address
a number of oncology-related diseases. Leuchemix's first compound has entered
initial clinical trials.