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CombiMatrix and Nanotech Partner NDC Achieve Milestone with Delivery of Prototype Nanomaterials Discovery Workstation
NEWPORT BEACH, Calif. --(Business Wire)-- Dec. 14, 2004 -- Acacia Research Corporation (NASDAQ:CBMX) (NASDAQ:ACTG) announced today that the CombiMatrix group and its partner, Nanomaterials Discovery Corporation (NDC), achieved a milestone with the delivery of a prototype workstation for the combinatorial discovery and development of new nanomaterials.
CombiMatrix and NDC have a strategic alliance to discover and develop new nanomaterials, nanotechnology tools and associated intellectual property. CombiMatrix has licensed its semiconductor microarray technology exclusively to NDC for use in NDC's combinatorial nanomaterials discovery efforts for applications that include fuel cell catalysts, materials for rechargeable batteries, and electro-optic materials for telecommunications and displays.
NDC is improving and complementing its nanomaterials discovery programs by developing a workstation for high throughput nanomaterials screening using CombiMatrix's nanoarray hardware. These workstations enable more efficient nanomaterials discovery efforts by capturing the intrinsic value of CombiMatrix's highly parallel nanoarray technology. CombiMatrix and NDC will share in the revenue from any commercially viable new nanomaterials that are discovered, as well as the sale of the workstations.
Taking advantage of the high throughput discovery capabilities of CombiMatrix's nanoarray, NDC has developed a substantial suite of intellectual property in and around the areas of fuel cells, rechargeable batteries, electo-optic and photovoltaic nanomaterials and new manufacturing methods for nanotechnology. NDC recently announced the award of a multi-million dollar appropriation from the U.S. Department of Defense for the development of certain types of fuel cells for use by the U.S. military. NDC is utilizing CombiMatrix nanoarrays for some of the work under this funded program.
"We have found that CombiMatrix's nanoarray technology is the gold standard for high throughput nanomaterials discovery," stated Dr. Don Montgomery, President & CEO of NDC. "This technology has helped us to very quickly establish substantial and pioneering intellectual property positions in nanotechnology that are applicable to commercially attractive areas such as fuel cells, batteries, photovoltaics and electro-optics."
"We are pleased with the progress that has been made by NDC and continue to look forward to additional achievements," said Dr. Amit Kumar, President and CEO of CombiMatrix. "We anticipate that NDC's tremendous capabilities will take our nanoarray technology into a new and very lucrative market segment."
About Nanomaterials Discovery Corporation
Nanomaterials Discovery Corporation (NDC) was founded in 2003 to commercialize mature technologies and intellectual property developed by the Blue Sky Group Inc. of Laramie, Wyoming. NDC's patented high throughput screening technology and its highly parallel NanoAccess system produces and tests thousands of new nanomaterials every week. NDC uses state-of-the-art software to manage and to analyze the flood of information produced by the NanoAccess system.
NDC's nanotechnology development efforts are focused on fuel cell technologies, rechargeable battery technologies, OLED and flat panel display technologies and carbon nanotube composite materials. More information is available on the web at www.nanomaterialsdiscovery.com
About Acacia Research Corporation
Acacia Research Corporation comprises two operating groups: Acacia Technologies Group and CombiMatrix Group.
The CombiMatrix group is developing a platform technology to rapidly produce customizable active biochips, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. CombiMatrix's technology has a wide range of applications including DNA synthesis/diagnostics, siRNA synthesis, drug discovery, and immunochemical detection. CombiMatrix provides DNA arrays to researchers under the CustomArray(TM) brand. CombiMatrix's Express Track(SM) drug discovery program is a systems biology approach, using its technology, to target common viral diseases with siRNA compounds.
The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia's DMT(R) technology, which is supported by 5 U.S. and 31 foreign patents, relates to audio and audio/video transmission and receiving systems commonly known as audio-on-demand, video-on-demand, and audio/video streaming, and is used for distributing digital content via several means including Internet, cable, satellite and wireless systems. Acacia's Internet Access Redirection ("IAR") technology covers redirected Internet registrations commonly used at wireless hotspots and hotels.
Acacia Research-Acacia Technologies (Nasdaq: ACTG) and Acacia Research-CombiMatrix (Nasdaq: CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups.
Information about the Acacia Technologies Group and the CombiMatrix Group is available at www.acaciaresearch.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 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 10-K, 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.
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