Under the expanded agreement Inbio will assume greater day-to-day operational responsibility and majority ownership of CombiMatrix Corporation’s Japanese sales and distribution subsidiary, CombiMatrix KK.
Inbio has obtained 67% of the voting interests in the Japanese company and will expand its distribution agreements with the CombiMatrix group. CombiMatrix KK and Inbio will combine their efforts to sell CombiMatrix group’s products and services in the Asia Pacific region.
Inbio will assume all operational and financial responsibilities of CombiMatrix KK including its liabilities. Meanwhile, the CombiMatrix group will manage new business and strategic relationships and opportunities from its US headquarters in Mukilteo, Washington.
“The experience of Inbio executives in the Japanese markets as well as their proximity will enable more efficient management of our now jointly owned Japanese subsidiary,” said Dr Amit Kumar, president and CEO of CombiMatrix.