Enzo Biochem Announces New York State Health Department Approval of New Easily Adaptable, Cost Effective Cardiac Assay
September 20 2016 - 12:24PM
Business Wire
PLAQPRO™ Lp-PLA2 Assay
is Based on a Proprietary Enzo Biochem Assay Platform, Further
Underscoring Growing Importance of Company’s Clinically Relevant
Diagnostics
Enzo Biochem, Inc. (NYSE: ENZ) today announced that the New York
State Department of Health has granted conditional approval for use
of Enzo Clinical Labs’ PLAQPRO™ Lp-PLA2 Assay.
This cardiac assay delivers improved consistency and is designed
to work on open platform clinical analysis instruments. The open
platform configuration is one of the several factors that
contribute to its cost effectiveness, which is vital to today’s
clinical labs that are confronted by shrinking reimbursements.
Elazar Rabbani, Ph.D., Enzo CEO and Chairman, commented that
“the approval of PLAQPRO™ Lp-PLA2 is a strong addition to Enzo’s
comprehensive cardiac testing panels, and is especially important
to women’s health.” Often a woman will have no symptoms of heart
disease, yet it is a leading cause of death for women in the United
States accounting for an estimated 500,000 female lives lost each
year. The assay is an important addition to Enzo’s expanding line
of women’s health products, while also helping to solidify Enzo’s
position as a leading full service women’s health lab.
PLAQPRO™ Lp-PLA2 Assay is a biochemical activity assay designed
to identify lipoprotein-associated phospholipase A2, a marker
associated with the potential for coronary heart disease. The
PLAQPRO™ Lp- PLA2 Assay can be useful as part of a cardiac testing
panel for individuals at intermediate or high risk for developing
coronary heart disease. Early identification of increased risk of
developing coronary heart disease offers the opportunity to adjust
patient lifestyles or utilize medical interventions to reduce risk.
The assay was developed using the Company’s strong expertise in
assay development, antibody production, small molecule chemistry,
and detection technology.
Dr. Rabbani emphasized Enzo’s commitment to delivering a robust
line of products and services that will provide medically relevant,
cost effective solutions that are easily adaptable to the workflow
of clinical laboratories. The Company’s integrated Life
Science-Clinical Lab structure continues to be instrumental in its
ability to seamlessly develop and advance products from innovation
and manufacturing in our life sciences group and validation and
commercialization through our clinical laboratory.
Enzo’s proprietary platforms, ranging from DNA-based
technologies to cellular analysis, and the assays based on them,
continue to provide more sensitive diagnostic information at lower
costs than many other tests currently on the market. The Company’s
recently approved assays are the forerunners of a comprehensive
line of open diagnostic products under development by Enzo to
address the critical needs of clinical laboratories. Currently,
laboratories are often locked into closed-system contracts with
molecular diagnostic suppliers that, faced with ever-declining
reimbursements, reduce or even eliminate operating margins.
The Company’s development pipeline includes an extensive line of
assays for detection of numerous women’s health infectious agents
as well as for the identification of other pathogens. The Company
is also developing a proprietary line of products designed to aid
pathologists in differentiating the characteristics of various
tumors from biopsy specimens. The Company’s molecular-based
products and services are targeted at a market currently estimated
to be in excess of $3 billion annually.
About Enzo Biochem
Enzo Biochem is a pioneer in molecular diagnostics, leading the
convergence of clinical laboratories, life sciences and
intellectual property through the development of unique diagnostic
platform technologies that provide numerous advantages over
previous standards. A global company, Enzo Biochem utilizes
cross-functional teams to develop and deploy products systems and
services that meet the ever-changing and rapidly growing needs of
health care today and into the future. Underpinning Enzo Biochem’s
products and technologies is a broad and deep intellectual property
portfolio, with patent coverage across a number of key enabling
technologies.
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,
including those related to cash flow, gross margins, revenues, and
expenses are dependent on a number of factors outside of the
control of the Company including, inter alia, the markets for the
Company’s products and services, costs of goods and services, other
expenses, government regulations, litigations, and general business
conditions. See Risk Factors in the Company’s Form 10-K for the
fiscal year ended July 31, 2015. 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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version on businesswire.com: http://www.businesswire.com/news/home/20160920006567/en/
For: Enzo Biochem, Inc.Steve Anreder,
212-532-3232steven.anreder@anreder.comorCEOcast, Inc.Michael Wachs,
212-732-4300mwachs@ceocast.com
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