SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* HLM Venture Partners III, L.P. (Last) (First) (Middle) 222 BERKELEY STREET, 21ST FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 04/07/2011	3. Issuer Name and Ticker or Trading Symbol CombiMatrix Corp [ CBMX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,595,896(1)(2)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrants (right to buy)	10/08/2011	04/07/2016	Common Stock	678,255(1)(2)	$2.14	D

1. Name and Address of Reporting Person* HLM Venture Partners III, L.P. (Last) (First) (Middle) 222 BERKELEY STREET, 21ST FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* HLM Venture Associates III, LLC (Last) (First) (Middle) 222 BERKELEY STREET, 21ST FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CAHILL EDWARD L (Last) (First) (Middle) C/O HLM VENTURE PARTNERS 222 BERKELEY STREET, 21ST FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* GRUA PETER J (Last) (First) (Middle) C/O HLM VENTURE PARTNERS 222 BERKELEY STREET, 21ST FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RAY RUSSELL T (Last) (First) (Middle) C/O HLM VENTURE PARTNERS 222 BERKELEY STREET, 21ST FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Securities held of record by HLM Venture Partners III, L.P. ("HLM"). HLM Venture Associates III, LLC (the "GPLLC"), as the sole general partner of HLM, may be deemed to beneficially own certain of the shares held of record by HLM. The GPLLC disclaims beneficial ownership of all shares held of record by HLM in which the GPLLC does not have an actual pecuniary interest.

2. Each of Messrs. Cahill, Grua and Ray, as individual Class A Members of the GPLLC, may be deemed to beneficially own certain of the shares held of record by HLM. Each of Messrs. Cahill, Grua and Ray disclaims beneficial ownership of all shares held of record by HLM in which he does not have an actual pecuniary interest.

Remarks:

	/s/ Vincent J. Fabiani as attorney-in-fact for HLM Ventures Partners III, l..P.	04/15/2011
	/s/ Vincent J. Fabiani as attorney-in-fact for HLM Ventures Assocaites III, l.LC	04/15/2011
	/s/ Vincent J. Fabiani as attorney-in-fact for Edward L. Cahill	04/15/2011
	/s/ Vincent J. Fabiani as attorney-in-fact for Peter Grua	04/15/2011
	/s/ Vincent J. Fabiani as attorney-in-fact for Russell T. Ray	04/15/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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