The Smallest, Most Economic Array Reader on the Market

MUKILTEO, Wash., Dec. 16, 2009 — CombiMatrix Corporation (Nasdaq:CBMX) announced today the launch of its next-generation ElectraSense(R) microarray reader.

The new ElectraSense(R) provides a robust, affordable, and user-friendly microarray reader that electrochemically measures up to 12,000 probes on an array in less than 25 seconds. The palm-sized reader achieves compact size and affordability by eliminating optics, light sources, and complicated alignment components. Common enzymes and substrates replace expensive fluorescent dyes required in existing technologies. In combination with CombiMatrix arrays, this system for array-based analysis is the most economic package available commercially.

The ElectraSense reader was developed with funding from the U.S. Department of Defense, whose interest is a portable, rugged, and compact instrument. The reader is about the size of a can of soda pop and can be carried in a pocket, held by hand, or placed in a laboratory.

Further information, including photographs and technical details regarding the new ElectraSense reader can be obtained at: http://www.combimatrix.com/products_electrasense.htm. For ordering information or additional details, please contact CombiMatrix at (425) 493-2211.

“The combination of the new ElectraSense reader with CombiMatrix reusable CustomArrays(R) will appeal to those laboratories wishing to drive down overall costs in their microarray analysis,” said Craig Bury, Director of Global Sales and Marketing at CombiMatrix. “The ElectraSense offers a high-value array reader in a compact, inexpensive, easy-to-use device. The capabilities of our reader enable several methodologies for purchase, lease, and overall utilization that would not be possible with more expensive readers. We encourage potential customers to call us about these commercial programs.”

“While the primary commercial focus of our company has been our diagnostic services business and the development of our Comprehensive Cancer Array, we continue to receive funding from the U.S. government to develop specific products. These products are designed for dual use addressing military and government needs, but also general research and development needs, as well as potential diagnostic applications,” stated Dr. Amit Kumar, President and CEO of CombiMatrix.

CombiMatrix CustomArrays(R)

CustomArrays are semiconductor-based arrays (approx. 1 cm(2)) integrated onto a standard 1″x 3″ slide format. CustomArrays contain in situ synthesized oligonucleotides, prepared using CombiMatrix’s patented virtual-flask technology. The CombiMatrix CustomArray Stripping Kit enables the stripping and rehybridization of the CustomArray up to three additional times. Additional applications for this array have been developed based upon de novo electrochemical synthesis and other deposition methods for capture elements. “This array can be read with the ElectraSense reader and, with the use of fluorescent dyes, can be read by commercial fluorescent mircroarray readers, giving it the broadest range of detection capabilities.”

ABOUT COMBIMATRIX CORPORATION

CombiMatrix Corporation is a diversified biotechnology business that develops proprietary technologies, including products and services in the areas of drug development, genetic analysis, molecular diagnostics, nanotechnology and defense and homeland security markets, as well as in other potential markets where our products and services could be utilized. The technologies we have developed include a platform technology to rapidly produce user-defined, in-situ synthesized, oligonucleotide arrays for use in identifying and determining the roles of genes, gene mutations and proteins. This technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology. Other technologies include proprietary molecular synthesis and screening methods for the discovery of potential new drugs. Combimatrix Molecular Diagnostics, Inc. (“CMDX”), our wholly owned subsidiary located in Irvine, California, has developed capabilities of producing arrays that utilize bacterial artificial chromosomes, which also enable genetic analysis. CMDX functions primarily as a diagnostics reference laboratory. Leuchemix Inc. (“Leuchemix”), a minority owned subsidiary, is developing a series of compounds to address a number of oncology-related diseases. Leuchemix’s first compound has entered initial clinical trials.

Additional information about CombiMatrix Corporation is available at www.combimatrix.com or by calling 1-800-985-CBMX (2269). Additional information about CMDX is available at www.cmdiagnostics.com or by calling 1-800-710-0624.

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.