Enzo Clinical Labs to Begin Accepting Specimens for COVID-19 Testing
Company Concurrently Developing Proprietary Next Generation Test
Enzo Biochem, Inc. (NYSE:ENZ) today announced that its wholly owned subsidiary, Enzo Clinical Labs, Inc., will begin accepting specimens for novel Coronavirus (COVID-19) testing next week. COVID-19 is a contagious virus that is believed to spread by person-to-person transmission and may have serious health consequences. The virus has infected more than 93,000 people globally including recent detections in the United States. Enzo has many years of experience processing specimens for the detection of viral pathogens. The test used by Enzo is a molecular test that determines the presence of viral RNA in respiratory specimens collected from patients by healthcare providers.
Enzo CEO Dr. Elazar Rabbani commented: "Clinical laboratories play a vital role in combatting serious challenges to public health, including those posed by COVID-19. We are pleased to be able to rapidly respond to the urgent need for this test and we remain committed to working with our industry partners to address this challenge."
Enzo is concurrently applying its technical expertise in molecular diagnostics to develop a next generation COVID-19 testing option. Enzo’s innovations include virus-inactivating specimen collection media to lessen transmission risks for healthcare providers and clinical laboratory personnel, the development of more relevant positive controls for the tests, and improved sensitivity. The company is consulting with the U.S. Centers for Disease Control and Prevention on the implementation of these enhanced test features.
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 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 which 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, litigation, and general business conditions. See Risk Factors in the Company’s Form 10-K for the fiscal year ended July 31, 2019. 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 release.
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For: Enzo Biochem, Inc.
David Bench, CFO
Anreder & Company