CombiMatrix Corp (NASDAQ:CBMX) Ties Up With American Pathology Partners
CombiMatrix Corp (NASDAQ:CBMX) gained close to 14.7 percent during trading on 17th March on the back of its announcement that it has inked a deal with American Pathology Partners, where by the DNA testing major has been retained to provide screening and analysis services for patients who have suffered miscarriage in their care. The testing would involve “Chromosomal analysis” of the patients who are referred to them by American Pathology Partners.
The move by health care provider is an extension of its previously announced initiative to stitch up a nationwide initiative aimed at creating a network of labs which are well qualified to conduct chromosomal tests to determine causes of miscarriage.
Win – Win For Both Companies
CombiMatrix Corp (NASDAQ:CBMX) tie up with American Pathology Partners is going to provide wider exposure to its state of the art “Product of Conception (POC) testing.” Commenting about the huge windfall gains that the company expects to realize from the tie up, CombiMatrix Corp (NASDAQ:CBMX) President and Chief Executive Officer Mark McDonough has been quoted to have said that, “ POC test is the Company’s fastest-growing test in terms of volumes. Recently published data, including a major National Institutes of Health study, has shown the superiority of CMA over traditional karyotyping for identifying significant genetic abnormalities. Chromosomal microarray testing is proving to be a tremendously important tool in helping to identify the causes of miscarriages as well as assisting in future pregnancies.”
Aim To Gain Larger Market Share
The move comes as a reiteration of the company’s stated resolve to tie up with leading testing labs to create a larger market for its testing products and procedures. With a larger customer base, the company hopes to have access to readymade audience which can be leveraged to use its other testing tools.