Enzo Biochem’s Life Sciences Unit Reaches $21 Million Patent Infringement Settlement in Delaware With Illumina, Inc.
July 07 2016 - 9:15AM
Business Wire
Resolved Suit Is One of 11 Infringement
Cases Brought in Delaware Federal District Court; Six Remain
Pending
Enzo Biochem, Inc. (NYSE:ENZ) today announced
that its subsidiary, Enzo Life Sciences, Inc., has reached and
finalized a settlement with Illumina, Inc. (Nasdaq: ILMN) that
included a payment of $21 million to Enzo in an action brought in
Delaware Federal District Court by Enzo alleging infringement of
its U.S. Patent No. 7,064,197, entitled System, Array and
Non-Porous Solid Support Comprising Fixed or Immobilized Nucleic
Acids.
This settlement resolving the dispute between
Enzo Life Sciences and Illumina impacts only one of 11 cases
originally brought by Enzo in the United States District Court for
the District of Delaware alleging patent infringements against
various companies, five of which are now resolved and six of which
remain pending.
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 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, 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160707005723/en/
For Enzo Biochem, Inc.Anreder &
CompanySteven Anreder,
212-532-3232steven.anreder@anreder.comorCEOcast, Inc.Michael Wachs,
212-732-4300mwachs@ceocast.com
Enzo Biochem (NYSE:ENZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enzo Biochem (NYSE:ENZ)
Historical Stock Chart
From Apr 2023 to Apr 2024