Today, CBMX announced a four-year contract with NASA's Ames Research Center that includes $214,051 in funding for the first year with three additional option years at the same level of funding. The Company will provide NASA with a molecular diagnostics package that will be used to study genetic changes in bacteria as they orbit around the earth. CBMX has developed a diagnostic array reader which is the size of a mobile phone and an expected launch during 3Q09.

Earlier this month, CBMX reported its results for 4Q and FY08, which included a 208% increase in diagnostic lab revenue from the year-ago period, a 29% sequential increase in diagnostic lab revenue, and positive data on the Comprehensive Cancer Array (CCA) test (with an expected launch in 2010).

Last month, preliminary results for the CCA test demonstrated that it can non-invasively screen for the early detection of cancer, focusing on prostate, colon, ovarian, breast, and lung cancers (which account for about 85% of all solid tumors in the U.S.). The study showed that the miRNA (type of nucleic acid) expression patterns in the blood for patients with cancer (including early stage 1) were very different from patients who were cancer-free. An analysis of results indicated that a clear distinction could be made between patients with cancer and those without.

A broad-based, early detection test for cancer would have tremendous market potential and fits well with the focus on preventive medicine by the new administration. This early warning system for cancer is designed to be a non-invasive, blood screening test which would require confirmation of results by a follow-up, invasive method such as a biopsy.

CBMX reported 4Q08 revenue of $1.2M, operating expenses of $5.2M, and a net loss of $4.1M versus year-ago results for these metrics of $1.9M, $5.5M, and $3.5M, respectively.