CombiMatrix Corporation (NASDAQ:CBMX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 27, 2017, Dirk van den Boom, Ph.D. was appointed to
the Board of Directors (the Board) of CombiMatrix Corporation
(the Company) to fill an existing vacancy. No determination has
yet been made as to whether Dr. van den Boom will be appointed to
any committee of the Board.
Dr. van den Boom, 46, is the founder and Managing Partner of
mindwerks bio, LLC, a San Diego-based research and development
stage life sciences company, and also serves as a Senior Advisor
to Berg Capital Markets, a Healthcare capital markets and
analytics firm. Previously, Dr. van den Boom served as President,
Chief Executive Officer and Director of Sequenom, Inc., a
publicly-traded healthcare diagnostics company that was acquired
by LabCorp in September 2016. Dr. van den Boom joined Sequenom in
1998 and held positions of increasing responsibility during his
18-year tenure at Sequenom, including as President and Chief
Executive Officer from October 2015 to September 2016, Director
from April 2015 to September 2016, Chief Scientific and Strategy
Officer from June 2014 to October 2015, Executive Vice President
of Research and Development and Chief Technology Officer from
December 2012 to June 2014, Senior Vice President of Research and
Development from August 2010 to December 2012 and Vice President
of Research and Development from October 2009 to August 2010.
Prior to August 2010, he held various management roles within the
research and development departments of Sequenom. Dr. van den
Boom also has served as a Member of the March of Dimes Board of
Directors, San Diego Chapter since December 2015. Dr. van den
Boom has co-authored over 95 peer-reviewed publications and is a
named inventor on over 80 patents and patent applications. He
received his Ph.D in Biochemistry/Molecular Biology from the
University of Hamburg, Germany.
Dr. van den Boom will be eligible to receive a discretionary
stock option and/or restricted stock unit award under the
Companys 2006 Stock Incentive Plan, as amended, to be determined
by and subject to the approval of the Compensation Committee of
the Companys Board. to the Companys director cash compensation
policy, Dr. van den Boom will receive $24,000 annually for his
service as a member of the Board, to be paid quarterly. Dr. van
den Boom also will be reimbursed for expenses incurred in
connection with attendance at meetings of the Board and
committees of the Board and in connection with his performance of
Board duties. The Company and Dr. van den Boom also entered into
the Companys standard director indemnification agreement.
The Company has a collaboration agreement with one of Sequenoms
subsidiaries, Sequenom Center for Molecular Medicine, LLC (SCMM),
which has resulted in approximately $122,000 of payments made by
the Company to SCMM during 2016. Under the collaboration
agreement, the Company pays to SCMM a fee of $200 for each
billable specimen received by SCMM with respect to which SCMM
performs certain marketing activities with respect to testing
services utilizing the laboratory developed tests known as the
CombiSNP Array Pre-natal and the CombiSNP Array for POC, and
performs order coordination, customer service and result
reporting activities with respect to such testing services
ordered through SCMM. In addition to having served as President,
Chief Executive Officer and Director of Sequenom, Dr. van den
Boom also served as President of SCMM.
About CombiMatrix Corporation (NASDAQ:CBMX)
CombiMatrix Corporation is a provider of molecular diagnostic solutions. The Company specializes in pre-implantation genetic screening, miscarriage analysis, prenatal diagnosis and pediatric developmental disorders, offering deoxyribonucleic acid-based testing for the detection of genetic abnormalities, which cannot be identified through traditional methodologies. It performs genetic testing utilizing a range of cytogenomic techniques, including chromosomal microarray analysis, fluorescence in situ hybridization and karyotyping. Its prenatal and postnatal microarray focuses on diagnosing genomic syndromes associated with intellectual disability, developmental delays, congenital anomalies, dysmorphic features and autism spectrum disorders. It develops and markets its molecular testing services in approximately four markets, such as in vitro fertilization (IVF), miscarriage analysis (products of conception analysis), prenatal genetics and postnatal developmental disorders. CombiMatrix Corporation (NASDAQ:CBMX) Recent Trading Information
CombiMatrix Corporation (NASDAQ:CBMX) closed its last trading session down -0.05 at 4.65 with 134,169 shares trading hands.
