CombiMatrix, a molecular diagnostics company specifically founded in DNA-based testing services used for cancer diagnostics and developmental disorders, announced earlier today the addition of Robert E. Hoffman to its Board of Directors, effective immediately. Hoffman, an industry veteran, will fill CombiMatrixs's current vacancy, bringing the total number of directors sitting on its Board to seven.
With a concrete financial background in the biopharmaceuticals sector, Hoffman currently sits as Senior Vice President of Finance and Chief Financial Officer of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), a San Diego-based biopharmaceutical company that currently focuses its energies on developing, discovering, and commercializing novel drugs that target G protein-coupled receptors or GPCRs. Arena's internally discovered drug, BELVIQ(NYSE:R) (lorcaserin HCl), is presently approved in the United States and under review for regulatory approval in additional territories.
Hoffman, since joining Arena in 1997, has held a number of roles in finance and accounting, including involvement in Arena's IPO. He has also served as CFO of Polaris Group, a privately held drug development company. Hoffman is also a member of the business and financial advisory board of the emerging Innovus Pharmaceuticals, a publicly traded pharmaceuticals company based in La, Jolla, California.
"We are pleased to welcome Robert to our Board at this very important time for CombiMatrix," stated 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 is a member and former director and president of the San Diego Chapter of Financial Executives International. He currently serves on the Financial Accounting Standards Board's Small Business Advisory Committee and the steering committee of the Association of Bioscience Financial Officers. In addition Hoffman is licensed as a C.P.A. (inactive) in the state of California and holds a bachelor's degree in business administration from St. Bonaventure University.
For more information about CombiMatrix, visit www.combimatrix.com
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