Enzo Biochem Announces Supply and Royalty Bearing Cross-Licensing Agreements with Abbott.Contracts Involving Proprietary Enzo Technology Related to Products in Fast-Growing Field of Molecular Diagnostics Used to Detect Certain Cancers and Genetic Diseases NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Enzo Biochem, Inc. (NYSE NYSE See: New York Stock Exchange :ENZ) announced today that its subsidiary, Enzo Life Sciences, and Abbott have entered into an agreement covering the supply of certain of Enzo's products to Abbott Molecular for use in their FISH product line. The companies have also entered into a limited non-exclusive royalty bearing cross-licensing agreement of patents for fluorescence in situ hybridization Fluorescence in situ hybridization (FISH) A technique for diagnosing DiGeorge syndrome before birth by analyzing cells obtained by amniocentesis with DNA probes. FISH is about 95% accurate. ("FISH") systems, comparative genomic hybridization hybridization /hy·brid·iza·tion/ (hi?brid-i-za´shun) 1. crossbreeding; the act or process of producing hybrids. 2. molecular hybridization 3. ("CGH CGH Comparative Genomic Hybridization CGH Changi General Hospital (Singapore) CGH Computer-Generated Hologram CGH Community General Hospital (Syracuse, NY) ") analysis and labeling and detection technologies. The cross-licensing agreement includes Enzo patents directed towards its proprietary labeling and detection systems as they relate to Abbott's FISH platform. The license also provides Enzo with limited access to Abbott's FISH technology patents, CGH patents and various patents which relate to particular chromosome targets. These agreements relate to products in the field of molecular diagnostics, which is the fastest-growing segment of the diagnostics market, according to industry sources. FISH involves the use of labeled DNA probes which are used to identify specific genetic conditions. Currently, this technology is used to help diagnose and/or select therapy for certain cancers, such as breast, bladder, and leukemia, as well as to help diagnose genetic disorders. CGH is a molecular cytogenetic cytogenetic /cy·to·ge·net·ic/ (-je-net´ik) 1. pertaining to chromosomes. 2. pertaining to cytogenetics. cytogenetic pertaining to or originating from the origin and development of the cell. method for the analysis of chromosomal copy number changes (gains /losses) which are recognized as the underlying basis for congenital disorders and complex diseases such as cancer. Specific terms of the agreements were not disclosed. Patents granted to Enzo after January 1, 2006 are not subject to these agreements. "We are pleased to have entered into these agreements with Abbott, a leading developer of molecular diagnostics products," said Dr. Elazar Rabbani CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Enzo Biochem. "While these agreements will benefit both of our companies, for Enzo, what is especially important is that they represent further acknowledgment of Enzo's proprietary technology and product development capabilities, as well as the breadth of our intellectual property estate. In addition, this relationship complements and enhances the work we are doing in the development of single-copy DNA probes." About Enzo Enzo Biochem is engaged in the research, development and manufacture of innovative health care products based on molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller and genetic engineering techniques, and in providing diagnostic services diagnostic services, n.pl the imaging and laboratory capabilities available for determining the cause of an illness. to the medical community. The Company's proprietary labeling and detection products for gene sequencing and genetic analysis are sold to the life sciences market throughout the world. The Company's therapeutic division is in various stages of clinical evaluation clinical evaluation Medtalk An evaluation of whether a Pt has symptoms of a disease, is responding to treatment, or is having adverse reactions to therapy of its proprietary gene medicine for HIV-1 infection and its proprietary immune regulation medicines for uveitis uveitis Inflammation of the uvea, the middle coat of the eyeball. Anterior uveitis, involving the iris or ciliary body (containing the muscle that adjusts the lens) or both, can lead to glaucoma and blindness. , Crohn's Disease, and NASH Nash , Ogden 1902-1971. American writer known for his droll epigrammatic verse, much of which appeared in the New Yorker. Noun 1. Nash - United States writer noted for his droll epigrams (1902-1971) Ogden Nash (non-alcoholic steatohepatitis), as well as hepatitis infections. Pre-clinical research is being conducted on several candidate compounds aimed at producing new mineral and organic bone, including technology that could provide therapy for osteoporosis and fractures, among other applications. The Company also holds a patent covering a method and materials for correcting point mutations or small insertions or deletions of genetic material that would allow for editing and correcting certain abnormalities in genes. The Company owns or licenses over 200 patents worldwide. For more information visit our website www.enzo.com. Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release. |
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