CombiMatrix expands relationship with INBIO
Acacia Research Corporation announced that the CombiMatrix group has expanded its relationship with its existing partner, INBIO, for the Asia Pacific region. Major components of the expanded relationship include the transfer of day-to-day operational responsibility and majority ownership of CombiMatrix Corporation's wholly owned subsidiary, CombiMatrix K.K. (the "KK") to INBIO along with an expanded distribution agreement that encompasses Japan.
INBIO has obtained 67% of the voting interests in the KK and will expand its distribution agreements with the CombiMatrix group. INBIO will assume all operational and financial responsibilities of the KK including its liabilities. The CombiMatrix group will manage new business and strategic relationships and opportunities from its US headquarters in Mukilteo, Washington. The KK and INBIO will focus exclusively on sales of the CombiMatrix group's products and services.
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