FARMINGDALE, NY, March 10, 2003 – Enzo Biochem, Inc. (NYSE:ENZ) today announced that it entered into settlement agreements with two of four companies charged in a June 1999 suit with infringement of the Company’s U.S. Patent 4,900,659 (‘659) related to genetic probes for detecting Neisseria gonorrhoeae.
The firms involved in the settlement, and hence dismissed from the case, are Chugai Pharmaceutical Co., Ltd., of Tokyo, Japan and its subsidiary, Chugai Pharma U.S.A., Inc., and bioMérieux, Inc., of Durham, N.C. The remaining defendants in the case, which is pending in the U.S. District Court for the Southern District of New York, are Gen-Probe Incorporated and Becton Dickinson and Company.
“I am pleased that we have been able to amicably settle this issue with Chugai Pharmaceutical and bioMérieux in a manner that protects our Company’s rights with regard to the ‘659 patent,” said Elazar Rabbani, Ph.D., Chairman and CEO of Enzo. “We are vigorously pursuing this case with the remaining defendants.”
Terms of the settlement were not disclosed.
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, with approximately 200 patents worldwide, are sold to the life sciences market throughout the world. The Company's therapeutic division is conducting clinical trials of its proprietary gene medicine for HIV-1 infection and clinical trials of its proprietary immune regulation medicines for hepatitis B and hepatitis C infection and for Crohn’s Disease. 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. For more information visit our website www.enzobiochem.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.