Laramie, Wyoming - June 17, 2003 - Nanomaterials Discovery Corporation (NDC) announced today that it has entered into a license agreement with the CombiMatrix group of Acacia Research Corporation (Nasdaq: CBMX:ACTG). The agreement will provide NDC exclusive access to the CombiMatrix microarray technology for NDC's ongoing nanomaterials discovery program.
Dr. John Pope, Chairman of NDC, said "NDC's principals have been using electrochemistry and electrode arrays to develop and refine nanomaterials for several years. The CombiMatrix microelectrode array technology should greatly accelerate those efforts. The advances Combimatrix has made in its platform technology along with our capabilities should enable this system to be the standard for combinatorial discovery of nanostructured materials. They have developed a mature platform with proven utility in the biotechnology field. No other electrode array technology can match it." "The field of nanotechnology and nano-materials is growing rapidly, and we anticipate such growth to accelerate in the near future. CombiMatrix's platform is ideally suited for high-throughput, combinatorial discovery of novel materials for applications in electronics, energy conversion and storage, catalysis, and other industries. We are pleased to be working with NDC which has developed capabilities, intellectual property, and a strategy that complements our strengths," said Dr. Amit Kumar President and CEO of CombiMatrix.
Under the terms of the agreement, NDC will have an exclusive license to use CombiMatrix's microarray technology to augment and accelerate its nanomaterial discovery program. Combimatrix and NDC will share in the revenue from the commercialization of any newly discovered materials. Combimatrix will also receive a license to certain intellectual property owned by NDC. The two companies will develop and sell an integrated system comprised of hardware, software, and microarrays to nanostructured materials companies and research groups. The two companies will share in the revenue from the sale of this system as well as the sale of disposable microarrays.
About Nanomaterials Discovery Corporation
Nanomaterials Discovery Corporation develops nanostructured materials using high-throughput combinatorial electrochemical methods. The company's technology and intellectual property is focused on the discovery and refinement of fuel cell catalysts, rechargeable battery electrodes, flat panel display phosphors, and other inorganic and organic nanostructured 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, from DNA synthesis/diagnostics to immunochemical detection. Information about Acacia Research Corporation and the Acacia Technologies group is available at www.acaciaresearch.com. Information about the CombiMatrix group is available at www.combimatrix.com.
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.
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 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.
