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IRVINE, Calif., July 17, 2013 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company performing DNA-based testing services for developmental disorders and cancer diagnostics, today announced that veteran healthcare and finance executive Robert E. Hoffman has been appointed to the Board of Directors, effective immediately. Hoffman, 47, fills a current vacancy on the Board, which with his appointment is now made up of seven directors.
Hoffman has broad financial experience in the biopharmaceuticals sector. He is Senior Vice President, Finance and Chief Financial Officer of Arena Pharmaceuticals, Inc. (Nasdaq:ARNA), a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing novel drugs that target G protein-coupled receptors, or GPCRs, to address unmet medical needs. BELVIQ
® (lorcaserin HCl), Arena's internally discovered drug, is approved in the United States, and is under review for regulatory approval in additional territories.
Since joining Arena in 1997, Hoffman has served in various finance and accounting roles that have involved Arena's IPO, follow-on financings and transition to a commercial-stage company. In addition, he has served as CFO of Polaris Group, a privately held drug development company. Hoffman is a member of the business and financial advisory board of La Jolla, CA-based Innovus Pharmaceuticals, a publicly-traded emerging pharmaceuticals company.
"We are pleased to welcome Robert to our Board at this very important time for CombiMatrix," said R. Judd Jessup, Chairman of the CombiMatrix Board of Directors. "We see the prenatal molecular diagnostic market is growing rapidly, in particular chromosomal microarray analysis, in which we specialize. Robert's financial expertise will be especially useful as we seek to expand into major markets throughout the U.S. and continue to establish strategic corporate partnerships with regional pathology groups. We look forward to working closely with Robert during these important stages of our expected growth."
Hoffman serves on the Financial Accounting Standards Board's Small Business Advisory Committee and the steering committee of the Association of Bioscience Financial Officers. He is also a member and former director and president of the San Diego Chapter of Financial Executives International. Hoffman has a bachelor's degree in business administration from St. Bonaventure University and is licensed as a C.P.A. (inactive) in the state of California.