MUKILTEO, Wash., July 11, 2008 (PRIME NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX) announced today that it has sold a $10 million secured convertible note to a single institutional investor. The note is due on the earlier of July 10, 2010 or within four months after payment from National Union Fire Insurance Company (an AIG company, (NYSE:AIG)) in accordance with the $35.7 million judgment issued by the United States District Court for the Central District of California. National Union has appealed the judgment.
