Acacia Looks To Spin Out CombiMatrix

Newport Beach-based patent licensing firm Acacia Research announced this morning that its board has approved a plan to spin out its wholly-owned subsidiary, CombiMatrix, as an independent public company. Acacia, which is listed on the Nasdaq as ACTG, said that CombiMatrix will trade on the Nasdaq as CBMX, subject to tax opinion from legal counsel and required filings with the SEC. Acacia has been aggressively licensing patents and pursuing companies with patent infringement lawsuits. CombiMatrix is developing DNA chips used in drug research and other products for bioinformatics.