ENZO LAUNCHES PORTABLE MICROPLATE READER FOR USE WITH ITS ELISA AND ASSAY KITS TO SIMPLIFY LABORATORY WORKFLOW

Rhea-AI Summary

Enzo Biochem, Inc. (NYSE:ENZ) has launched a compact microplate reader that enhances drug discovery and clinical testing capabilities. This portable device facilitates point-of-care testing in urgent care, hospitals, and physicians' offices. Enzo's advanced technology allows precise and accurate results, making it suitable for a range of immunoassay applications. With a potential market expansion into the $18B point-of-care testing sector, this innovation aims to deliver high-quality diagnostics outside traditional labs. Enzo is positioning itself to meet growing healthcare needs with this versatile product.

Positive

• Launch of compact microplate reader enhances drug discovery and clinical testing.
• Device supports point-of-care testing, improving access for healthcare professionals.
• Market potential of over $18B in point-of-care testing is significant.
• Allows for precise and accurate results across various immunoassay applications.

Negative

• None.

- Powerful and precise compact instrument enables Enzo to offer a
 complete solution to advance drug discovery

- Microplate reader can be retrofitted for point-of-care clinical testing
at urgent care facilities, hospitals or physicians’ offices

NEW YORK, NY, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE:ENZ), a leading biosciences and diagnostics company, announced today the commercial launch of a small portable microplate reader for use with the company’s immunoassays and, ultimately, molecular diagnostics, providing new opportunities in point-of-care medicine. This affordable device enables Enzo to offer a complete solution to academic, CRO, and industrial customers.

Enzo is the provider of over 17,000 ELISA (enzyme-linked immunosorbent assay) and assay kits, including hundreds of highly sensitive ELISAs it manufactures. The advanced design and technology of Enzo’s compact microplate reader makes it possible to deliver precise and accurate results. Together with Enzo’s proprietary software, the device is an option for a wide variety of applications based on the miniaturization of Enzo’s assays. These tests include metabolites, hormones (e.g. pregnancy), proteins (e.g. inflammatory cytokines) and protein characterization.

With support from an instrument manufacturing company, the Enzo portable reader enables lab work to be executed outside of traditional research facilities (that rely on shared instrumentation). Now, researchers and lab professionals can have a dedicated, personal device to fit their space and needs with convenience and accessibility not previously available. The handheld instrument is about one-tenth the size of the average benchtop plate reader, allowing it to fit into any laboratory setting and saving bench space while providing new levels of flexibility and portability that can be extended to point-of-care facilities to allow physicians to provide molecular testing including assays for viral detection and sexually transmitted diseases.

The compact solid-state technology enables utilization of this instrument in new locations. With this technology, point-of-care testing can move from centralized, complex clinical labs closer to patient care. It simplifies testing procedures and opens up the opportunity to shift testing out of the hands of licensed medical technicians to healthcare professionals operating nearer to patients or, in some instances, even to patients themselves.

“Access to point-of-care testing continues to grow as technological advances in clinical diagnostic testing drive miniaturization of complex devices. Now, just as computers moved from mainframes to powerful, portable handheld devices, the same is happening within the clinical diagnostic testing industry. This reduced complexity provides high quality and precise testing capabilities to be available to a broader range of healthcare professionals involved in patient management whether they are sitting at an urgent care facility, a doctor’s office or hospital bedside,” said Kara Cannon, Chief Commercial Officer of Enzo. 

“The point-of-care testing market, currently valued at over $18B globally, has the potential to aggressively expand to many testing needs that are now not widely available at point-of-care, including a significant portion of the $15B immunoassay testing market,” added Ms. Cannon. “Common clinical immunoassay tests, such as vitamin D testing and inflammation analysis, currently are performed regularly in the clinical central testing lab by licensed medical technologists using large, complex instrumentation. Unlike lateral flow assays, this small yet powerful system does not sacrifice sensitivity for convenience and allows for multi-assay capabilities.”

“Enzo’s corporate vision addresses new opportunities for expansion and growth within both products and services,” added Ms. Cannon. “We are serving markets including laboratories, point-of-care, and direct-to-consumer. This market launch is an important step in extending our offerings beyond the central laboratory, enabling physicians to provide clinical testing at their office, urgent care facility, or other treatment center.”

In the future, Enzo anticipates launching isothermal testing on this platform, enabling constant temperature and eliminating the need for a thermal cycler. To learn more about Enzo’s plate readers and the full range of Enzo assays, researchers can visit www.enzolifesciences.com/absorbance96.

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.

Forward-Looking Statements

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, 2020. 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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Contact:

For Enzo Biochem, Inc.

David Bench, CFO
212-583-0100
dbench@enzo.com

Media:

Marisa Monte       
Berry & Company Public Relations
212-253-8881
mmonte@berrypr.com

Investors:

Jeremy Feffer
LifeSci Advisors, LLC
212-915-2568
jeremy@lifesciadvisors.com

Steve Anreder
Anreder & Company
212-532-3232
Steven.anreder@anreder.com

FAQ

What is the new product launched by Enzo Biochem?

Enzo Biochem launched a portable microplate reader designed for drug discovery and point-of-care testing.

How does the compact microplate reader benefit healthcare professionals?

It enables precise testing outside traditional lab settings, allowing quicker diagnostics at point-of-care facilities.

What market opportunities does Enzo's new device target?

The device targets the expanding $18B point-of-care testing market and various immunoassay applications.

Which assays can the new microplate reader perform?

It can perform tests for metabolites, hormones, proteins, and protein characterization.