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CombiMatrix Looks to Hire Banker

Luke Timmerman 8/14/09

CombiMatrix, the Mukilteo, WA-based maker of genetic analysis tools, said this week it intends to hire an investment bank to evaluate options to “unlock shareholder value,” which might mean selling the company, parts of the company, or a finding partnership, according to a statement. CombiMatrix (NASDAQ: CBMX) considers it a good time to evaluate those options because it has more than a year’s worth of cash in the bank, and it hopes to win $36 million in a court judgment. As we described in this profile in June, CombiMatrix is also going through a strategic shift, gearing its tools more toward the market for cancer diagnostics.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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