Enzo Biochem Announces Supply and Distribution Agreement with Cancer Genetics
Enzo Fluorescent Dye Labels to be Incorporated with CGI's DNA FISH Probes
NEW YORK--(BUSINESS WIRE)-- Enzo Biochem, Inc. (NYSE:ENZ), a vertically integrated biotechnology company engaged in the research, development, manufacture, licensing and marketing of innovative health care products, platforms and services based on molecular and cellular technologies, announced today a supply and distribution agreement between Enzo Life Sciences and privately-owned Cancer Genetics Inc., a leading producer of nucleic acid products used in genomic research. This agreement covers Enzo's proprietary fluorescent dye labels for increasing signal intensity in labeling nucleic acids.
Cancer Genetics ("CGI") is an emerging leader in personalized medicine with products and services that enable cancer diagnostics and treatment that are tailored to the specific genetic profile of the individual. CGI has developed two categories of next generation, genomic products that can be used in the laboratory setting to inform and transform cancer treatment - DNA FISH probes (which are currently available only outside the USA) and CGH microarrays. FISH (fluorescence in situ hybridization) is a cytogenetic technique used to detect and localize the presence or absence of specific DNA sequences on chromosomes. The fluorescent probes bind to those parts of the chromosome with which they show a high degree of sequence similarity.
The non-exclusive agreement enables Enzo Life Sciences to incorporate its proprietary labeling to increase specificity for CGI's nucleic acid material that it purchases and supplies to the research market. The Enzo labeling in essence affords the CGI probe greater visual sensitivity and the potential for improved clinical value and patient outcomes.
"We are pleased to be able to enter into a collaborative agreement with CGI which leverages the strengths of both companies. CGI is developing unique content in the areas of FISH and microarrays, while we offer unique manufacturing capabilities in both of these areas," said Dr. Carl Balezentis, President of Enzo Life Sciences. "Specifically, this agreement enables us to offer our labeling products in conjunction with Cancer Genetics' FISH probes, which are highly regarded in the research market, and which also provide strong recognition for our technology. We also recognize that opportunities exist to expand our clinical lab offerings through the unique products and services for personalized cancer treatment being offered and being developed by CGI."
Dr. R.S.K. Chaganti, the founder and Chairman of CGI, said, "This agreement will introduce the next generation of innovation and sensitivity in DNA probes being used for clinical cytogenetics for oncology."
About Enzo Biochem
Enzo Biochem, Inc., is a growth-oriented integrated life sciences and biotechnology company focused on harnessing biological process to develop research tools, diagnostics and therapeutics, and serves as a provider of test services, including exotic tests, to the medical community. Since our founding in 1976, our strategic focus has been on the development of enabling technologies in the life sciences field. Enzo Life Sciences develops, produces and markets proprietary labeling and detection products for gene sequencing, genetic analysis and immunological research, among others. Its catalog of over 40,000 products serve the molecular biology, drug discovery and pathology research markets worldwide. Enzo Clinical Labs provides laboratory services for a growing roster of physicians in the New York Metropolitan area, as well as parts of New Jersey and Pennsylvania. Its tests include, in addition to routine tests, capabilities for detecting molecular infection disease, molecular oncology, autoimmune disorders and genetics. Enzo Clinical Labs also provides clinical diagnostic services that allow Enzo to capitalize on its extensive advanced molecular and cytogenetic capabilities and the broader trends in predictive and personalized diagnostics. Enzo Therapeutics is a biopharmaceutical venture that has developed multiple novel approaches in the areas of gastrointestinal, infectious, ophthalmic and metabolic diseases. It has focused its efforts on developing treatment regimens for diseases and conditions for which current treatment options are ineffective, costly, and/or cause unwanted side effects. In the course of the company's research and development activities, Enzo has developed a substantial portfolio of intellectual property assets, with 249 issued patents worldwide and over 200 pending patent applications.
About Cancer Genetics, Inc.
Cancer Genetics, Inc. is an emerging leader in the personalized treatment of cancer through leading edge diagnostic products and services. The company was founded by Dr.R.S.K. Chaganti in 1999 and is based in Rutherford, New Jersey in a state of the art laboratory facility. CGI has two distinct and synergistic business units, one focused on delivering cancer testing services to leading oncologists, pathologists, surgeons and academic centers, and the other focused on developing next generation molecular diagnostic products for the personalized treatment of cancer. The company can be found on the internet at www.cancergenetics.com or reached at (201)528-9200.
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.
Source: Enzo Biochem, Inc.
Released March 17, 2010