[April 24, 2014] |
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Enzo Biochem Announces Settlement Agreement with Affymetrix
NEW YORK --(Business Wire)--
Enzo Biochem, Inc. (NYSE:ENZ) (the "Company"), along with its subsidiary
Enzo Life Sciences, Inc. entered into a Settlement with Affymetrix, Inc.
(NASDAQ:AFFX) with respect to actions between the Company and Affymetrix
before the U.S. District Court, Southern District of New York, Cases No
03-CV-8907 and 04-CV-1555.
As a result of the Agreement in settlement of the aforementioned cases,
Affymetrix will pay $5,100,000. Enzo's release of Affymetrix, Inc. does
not include the litigation currently pending against Affymetrix, Inc. in
the District of Delaware and any of the claims there asserted.
About Enzo Biochem
Enzo Biochem is a pioneer in molecular diagnostics, leading the
convergence of clinical laboratories, life sciences and therapeutics
through the development of unique diagnostic platform tchnologies 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 both 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, 2013. 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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