CombiMatrix to be set free

Published 9:00 pm Sunday, January 8, 2006

CombiMatrix was born just 11 years ago, but its apparently ready to face the big, bad world without a parent.

Acacia Research Corp., the California company that owns CombiMatrix, announced today that it will spin off the Mukilteo biotechnology firm within the next six months. CombiMatrix already has its own tracking stock, which will just be converted to its trading stock once it is set free from Acacia.

That tracking stock, by the way, has not done too well. It has struggled below $2 a share, closing Monday at $1.67 a share. At that price, CombiMatrix’s market value is just over $65 million.

If you’re not familiar with CombiMatrix, check out (shameless plug alert) my story from December: http://www.heraldnet.com/stories/05/12/05/100bus_virus001.cfm

The company also can be found online at www.combimatrix.com and www.cmdiagnostics.com.