Exhibit 99.1
news
[GRAPHIC OMITTED]] ENZO release
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Enzo Biochem, Inc.
527 Madison Avenue
New York, NY 10022
FOR IMMEDIATE RELEASE
ENZO BIOCHEM ANNOUNCES SUPPLY AND ROYALTY BEARING
CROSS-LICENSING AGREEMENTS WITH ABBOTT
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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, NY, May 3, 2007 - Enzo Biochem, Inc. (NYSE: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 ("FISH") systems, comparative genomic
hybridization ("CGH") 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
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, 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 and genetic
engineering techniques, and in providing diagnostic services 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 of its proprietary gene medicine for HIV-1 infection and its
proprietary immune regulation medicines for uveitis, Crohn's Disease, and 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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Contact:
For: Enzo Biochem, Inc.
Steve Anreder, 212-532-3232 Or Ed Lewis, CEOcast, Inc., 212-732-4300