PASADENA, Calif.–Acacia Research
Corporation today announced that its majority-owned
subsidiary, CombiMatrix Corporation, has entered into a license and
supply agreement with the National Aeronautics and Space
Administration (NASA).

The agreement provides for the license, purchase and use by the
NASA Ames Research Center of CombiMatrix’s active biochips
(microarrays) and related technology to conduct biological research in
both terrestrial laboratories and in space.

“CombiMatrix’s technology will enable NASA to conduct genome-wide
functional analysis of any organism under any environmental condition,
including in a micro-gravity environment,” said NASA Ames Research
Center research scientist Dr. Viktor Stolc. “NASA scientists also hope
to use the CombiMatrix technology in the future to monitor astronaut
health on the International Space Station.

Due to space and weight restrictions on the International Space
Station, scientists can carry out experiments on Earth, then upload
the data to the Space Station, where the experiment could be
duplicated using CombiMatrix’s technology. For the first time, it will
be possible to use a genomic analysis of many unusual organisms that
are studied at NASA.“ NASA recently announced a $27 million
biotechnology space initiative with a goal of understanding how human
DNA behaves in space as well as here on earth.

“Formalizing our relationship with NASA reflects CombiMatrix’s
strategy of converting early access customers into long-term
commercial partners,” said Gerald Knudson, Chairman and Chief
Executive Officer of CombiMatrix. “The flexibility and rapid
customization of our technology will assist NASA in this promising
field of space-based gene expression and biological research.”

NASA scientists using CombiMatrix’s system in orbit should be able
to design and produce customized biochips, conduct experiments,
analyze the results, and produce additional biochips incorporating
modified test parameters, without having to return to Earth.

A biochip is a collection of miniaturized test sites arranged on a
surface that permits many tests to be performed simultaneously, in
order to achieve higher throughput and speed. CombiMatrix’s integrated
system of semiconductor-based biochips, proprietary chemistry and
bioinformatics software offers the advantages of being cost-effective,
fast, flexible, and customizable. The versatility of CombiMatrix’s
technology offers an enterprise-wide solution to meet the needs of
pharmaceutical, biotechnology and medical diagnostics companies.

CombiMatrix recently entered into a 15-year strategic alliance
with Roche Diagnostics, which provides for worldwide distribution of
the company’s genomic-based research and diagnostic products.

About Acacia Research Corp.

Acacia Research develops and operates life science and enabling
technology companies. The company’s core technology opportunity has
been developed through its subsidiary, CombiMatrix Corp. Acacia
Research intends to build and acquire companies in the life science
and material science fields that will utilize CombiMatrix’s biochip
technology. Acacia Research’s Web site is located at

About CombiMatrix Corp.

CombiMatrix Corp. is developing a platform technology that allows
the company to rapidly produce customizable active biochips, which are
semiconductor-based tools for use in identifying and determining the
physiological functions of genes, gene mutations and proteins. This
active biochip technology should provide for an enterprise-wide
solution for pharmaceutical, biotechnology, and medical diagnostics
companies to perform genomic and proteomic based research.
CombiMatrix’s Web site is located at

About NASA Ames Research Center

NASA Ames Research Center is located at Moffett Field, California
in the heart of Silicon Valley. Ames was founded in 1939 as an
aircraft research laboratory by the National Advisory Committee on
Aeronautics (NACA) and in 1958 became part of National Aeronautics and
Space Administration (NASA). Ames specializes in research geared
toward creating new knowledge and new technologies that span the
spectrum of NASA interests.

This release contains forward-looking statements within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These statements address future events
and conditions concerning the company’s business plans. Such
statements are subject to a number of factors and uncertainties, such
as future economic conditions, changes in consumer demand, and
legislative, regulatory and competitive developments. Acacia Research
urges investors to review in detail the risks and uncertainties
disclosed in the company’s filings under the Securities Exchange Act
of 1934, as amended, including, but not limited to the company’s
annual report on Form 10-K for the year ended Dec. 31, 2000, the
company’s quarterly reports on Form 10-Q, and the company’s
Registration Statement on Form S-3 filed on Feb. 6, 2001, copies of
which can be obtained from the company or the Securities and Exchange
Commission. The company expressly disclaims any future obligation or
undertaking to update or revise any forward-looking statement
contained herein.


Acacia Research Corp., Pasadena

Rob Stewart (Investor Relations)

Pam Tomkinson (Media Relations)