Leuchemix Announces Publication of Data On Its Lead Cancer Drug Candidate
CombiMatrix Has a 33 Percent Equity Stake in Leuchemix
MUKILTEO, Wash., Oct. 15, 2007 (PRIME NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX) announced that Leuchemix (LCMX), Inc. has reported the publication of pre-clinical data regarding its lead oncology drug candidate LC-1 in the publication, "Blood," which is the official journal of the American Society of Hematology. The paper details studies performed using LC-1 in Acute Myelogenous Leukemia (AML), Chronic Lymphocytic Leukemia (CLL), and Acute Lymphoblastic Leukemia (ALL) and demonstrates the exciting potential this agent has in the treatment of hematological diseases.
The reported data, based on efforts from the laboratories of Dr. Craig Jordan and Dr. Peter Crooks, profiles the anti-cancer activity of LC-1 in primary patient samples from a variety of leukemia patients as well as other pre-clinical models including spontaneously occurring leukemias. Taken together, these results show promise for the potential treatment of human disease.
"We believe that the data presented in this paper strongly supports our efforts on LC-1 and we look forward to bringing the drug into clinical studies. Obviously, we are all aware that many drugs show promise at the pre-clinical stage but nevertheless, we feel this is an exciting time for our company," stated Dr. Bill Matthews, CEO of Leuchemix. The Company hopes to report initial human safety data in 2008.
A pre-publication version of the manuscript, "An orally bioavailable parthenolide analog selectively eradicates acute myelogenous leukemia stem and progenitor cells," has been published on the "Blood" journal website. The abstract for the article can be viewed using the following link: http://bloodjournal.hematologylibrary.org/cgi/content/abstract/blood-20 07-05-090621v1.
"We are pleased to announce the publication of this data, and we look forward to continued progress with LC-1," stated Dr. Amit Kumar, President and CEO of CombiMatrix. "We hope to provide updates on this compound as it progresses in development."
LCMX is a drug discovery company with headquarters in Woodside, CA. CombiMatrix provided the Series A financing to the Company in 2004 and currently owns one-third of LCMX.
ABOUT COMBIMATRIX CORPORATION
CombiMatrix Corporation is a diversified biotechnology company that develops and sells proprietary technologies, products and services in the areas of drug development, genetic analysis, molecular diagnostics, nanotechnology research, defense and homeland security, as well as other potential markets where our products and services could be utilized. The technologies we have developed include methods to produce DNA arrays for use in identifying and determining the roles of genes, gene mutations and proteins. These technologies have a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology.
Additional information about CombiMatrix Corporation is available at www.combimatrix.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 recent 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 S-1, 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.
CONTACT: CombiMatrix Corporation Investor Relations Amit Kumar (425) 493-2000 Fax: (425) 493-2010
Posted: October 2007