Enzo Biochem Reports on Meeting in Israel.Business Editors/Health/Medical Writers NEW YORK--(BUSINESS WIRE)--Sept. 16, 2003 The following press release was distributed this morning in Jerusalem, Israel, following a visit today by U.S. Secretary of the Treasury John W. Snow at Hadasit, a subsidiary of Hadassah Medical Organization, and attended by, among others, officials of Hadasit, The BIRD (Israel-U.S. Binational bi·na·tion·al adj. Of, relating to, or involving two nations. Industrial Research and Development) Foundation, Professor Yaron Ilan of Hadassah Medical Center Hadassah Medical Center (Hebrew: מרכז רפואי הדסה , and Elazar Rabbani, Ph.D., Chairman and 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. , and Barry Weiner, President, of Enzo Biochem, Inc. (NYSE NYSE See: New York Stock Exchange :ENZ):
Innovative Research in Drug Development for Treatment of Chronic
Liver Disease Presented to the U.S. Secretary of the Treasury During
his Visit to Hadasit. The Project of Hadasit in Conjunction with the
U.S. Partner Enzo Biochem, is Funded by the BIRD Foundation
The visit was conducted during the Secretary's visit to Israel, in
response to his interest in ongoing US - Israel cooperation for
support of hi-tech infrastructure in both countries.
Jerusalem, ISRAEL, September 16, 2003 ...US Secretary of the Treasury John W. Snow visited today Hadasit, a subsidiary of Hadassah Medical Organization, where he received an overview of a project being conducted by the company in conjunction with US Enzo Biochem, Inc. and funded by the BIRD (Israel-U.S. Binational Industrial Research and Development) Foundation. The project is based on the regulation of an immune response immune response n. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. by introduction of specific antigens via the gastrointestinal tract gastrointestinal tract n. The part of the digestive system consisting of the stomach, small intestine, and large intestine. Gastrointestinal tract . A Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II for treatment of chronic liver disease Chronic liver disease is a liver disease of slow process and persisting over a long period of time, resulting in a progressive destruction of the liver. It includes amongst others:
Hepatitis B is a potentially serious form of liver inflammation due to infection by the hepatitis B virus (HBV). It occurs in both rapidly developing (acute) and long-lasting (chronic) forms, and is one of the most common chronic infection has been completed.. The widespread incidence of chronic liver disease worldwide raises its treatment priority to a global emergency, bringing together leading experts from around the world. Professor Yaron Ilan, Head of the Department of Internal Medicine A at Hadassah Medical Center, and leader of the project, claimed that "Successful treatment of these patients may enable future use of this treatment method for other diseases also mediated by the immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. , such as hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. infection and AIDS, as well as Crohn's Disease Crohn's disease: see colitis. and arthritis." The project is the outcome of joint research conducted over a number of years between scientists at the Department of Internal Medicine, Hadassah Medical Center, Jerusalem and scientists at Enzo Biochem, Inc., 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 , in an effort to develop new treatment methods for immune-related diseases. "The project has successfully completed the second development phase and the team is currently preparing for the next phase, leading to submission to the US FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. for approval for the drug," claimed Dr. Rafi Hofstein, CEO of Hadasit, during the visit. "Our successful collaboration with Enzo, as well as the funding we received from the BIRD Foundation for the second development stage, have greatly facilitated the entire process and enabled its successful completion," he added. During the visit, Dov Hershberg, Executive Director of BIRD, thanked Secretary Snow for US support of the BIRD Foundation and its business model. According to Hershberg, "BIRD's business model of joint cooperation between US and Israeli companies provides an opportunity for development of innovative technologies and for their worldwide promotion. During its years of operations, the Foundation has facilitated the development of new industries. Software, communications, semiconductors, life sciences and biotechnology. Recently, BIRD is also focusing efforts on nanotechnology and homeland security. Cooperation between the US and Israeli governments via the BIRD Foundation has contributed greatly to the advanced technology infrastructure in both countries and to the growth of the hi-tech industry in Israel." The BIRD Foundation intends to submit a request to its Board of Directors, which includes representatives from the US Treasury, to increase the size of the fund in the near future. About the BIRD Foundation: The Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation promotes strategic partnerships between Israeli and American companies in various technological fields. BIRD assists, free of charge, in the identification of strategic partners for development of a joint product. Over the course of years of activities, BIRD has achieved a proven track record in predicting emerging business areas and breakthroughs. This has earned it a prominent and authoritative position within the Israeli technological community, and enabled it to promote leading technological projects in various business areas. The BIRD Foundation funds projects without taking any equity. Funds are repaid only as royalties on actual sales. The Foundation provides funding of up to 50% of project expenses, from R&D to the initial stages of sales and marketing. In projects that do not reach actual sales, BIRD participates in the risk without demanding repayment of its investment. The BIRD Foundation works in full cooperation with the Office of the Chief Scientist Office of the Chief Scientist may refer to:
About Hadasit: Hadasit was established as a subsidiary of Hadassah Medical Organization (HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, ) in Jerusalem, Israel for the purpose of promoting and commercializing its continuously generated intellectual property (IP), aimed at finding solutions to problems faced by modern medicine. IP generated by HMO has already gained a place of honor in the international medical research arena with cutting-edge biomedical technology for the development of novel therapeutics, diagnostic methods and devices. Hadasit's ultimate responsibility is to guide technologies from innovation to commercial application. In order to accomplish this transformation, Hadasit is equipped with the full-spectrum of resources and capabilities required for composing and conducting the "symphony" of pre-clinical services & clinical studies, establishing start-up companies, offering product licensing and providing international consulting services. Hadasit's obligation to the actualization actualization Psychiatry The realization of one's full potential of its projects stems from the belief that medical knowledge makes a difference only as much as it is translated into medical practice. Thus, we believe in creating value from intellectual property not only for commercial reasons, but more importantly, for the sake of advancing medicine worldwide. About Enzo Biochem, Inc. Enzo Biochem, Inc. is a leading US biotechnology company engaged in the research, development, marketing and manufacture of innovative health care products. Founded in 1976, Enzo's products and services are sold and used by scientists and the medical community worldwide. The Company has proprietary technology and expertise in manipulating and modifying genetic material and other biological molecules. Through three wholly owned subsidiaries, the Company targets its technology towards satisfying specific market needs. Enzo Therapeutics, Inc.. is leading the development of medicines based on genetic and immune regulation to combat infectious diseases, autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause and cancers. The Company is conducting clinical trials of its proprietary genetic medicine for HIV-1 infection and clinical trials of its immune regulation medicines for hepatitis B and hepatitis C infections and for Crohn's Disease. Enzo Life Sciences, Inc. develops and markets proprietary DNA-based research products to clinicians and researchers. Enzo Clinical Labs, Inc. provides diagnostic testing Diagnostic testing Testing performed to determine if someone is affected with a particular disease. Mentioned in: Von Willebrand Disease services to the greater New York medical community. For further information: Hadasit: Dr. Rafi Hofstein, Chief Executive Officer, Tel: 02-677-8757, 051-802117. BIRD Foundation: Dov Hershberg, Executive Director, BIRD Foundation, Tel: 03-6470710 ext. 302, 050-219671. or visit BIRD Foundation's web site at www.birdf.com Enzo Biochem, Inc.: Steve Anreder, Enzo Biochem, Inc. Tel: 212-532-3232, email sanreder@ahscompany.com or visit Enzo's web site at 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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