Enzo Biochem Awarded Pioneering Patent In U.S. With Wide Application for Nucleic Acid Diagnostics and Testing
FARMINGDALE, N.Y.--(BW HealthWire)--May 14, 2001--Enzo Biochem, Inc. (NYSE:ENZ - news) announced today that the United States Patent and Trademark Office has awarded the Company U.S. Patent No. 6,221,581 directed to innovative nucleic acid formatting applicable to diagnostics and genetic analyses.
Enzo said that the newly patented diagnostic technology can be used as a platform for multiple applications including the diagnosis of infectious diseases and cancer as well as for use in complex genetic analyses and will provide a simple cost effective method applicable to the diagnosis of both direct and amplified specimens, a potential market in excess of $500 million.
``This far-reaching patent adds yet another component to the Company's vast technological capabilities and intellectual property estate encompassing more than 200 patents and a similar number of patent applications,'' said Elazar Rabbani, Chairman and CEO of Enzo. ``It provides Enzo with an important new position in an area of diagnostics which is receiving a great deal of attention, and it has significant potential which we have every intention of fully exploiting.''
One aspect of the patent covers a unique format involving binding unlabeled nucleic acid probes to specific targets which are then isolated or captured on a surface. The bound targets are then detected using labeled protein molecules, such as antibodies. The Company said that the formats covered by the patent permit accurate and sensitive detection and quantification of pathogens, including viruses. It is particularly applicable to measuring viral loads in subjects being monitored for viral diseases. Enzo said that plans are already underway to commercialize the format and to bring new products incorporating its features to market.
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 with approximately 200 patents worldwide are sold to the life science market throughout the world. The Company's therapeutic division is conducting clinical trials for HIV-1-infected patients and for patients infected with hepatitis B and hepatitis C viruses, and suffering from hepatitis C- associated hepatocellular carcinoma (liver cancer). Other therapeutic applications of Enzo's proprietary technology are directed towards cholesterol management and the treatment of inflammatory bowel disease, including Crohn's disease and ulcerative colitis. 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.
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. Prospective 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.
