100,000 square foot facility to support company plans for growth in clinical laboratory services, drug development services and product innovations
Launch event to feature updates on Enzo plans for business growth and perspectives on prospects for the Long Island business community from community leaders including Senator John Brooks and Assemblyman Steve Stern
New York, NY, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”), a leading biosciences and diagnostics company, today announced the official launch of the Company’s new 100,000 square foot state-of-the-art laboratory and research facilities in Farmingdale, New York. The launch event being held this morning at 11:00 AM ET at the new Enzo headquarters will feature an outline of the Company’s plans for growth in many new areas of diagnostics, life sciences, and clinical laboratory service, and will include comments regarding the business community on Long Island from New York dignitaries.
Enzo Biochem is a global healthcare company that offers a range of products and services to support medical research and life sciences drug development as well as clinical diagnostic services. With the opening of the company’s new facilities in Farmingdale, Enzo has expanded its manufacturing operations while increasing job opportunities at its Long Island based facility. The company has approximately 500 employees with plans to add more in the coming months. This expansion enhances Enzo’s relationship with local government and the Suffolk County’s Industrial Development Agency that supported the purchase of one of the new facilities four years ago and continue to provide support for our commitment to more local job creation.
“The last few years have been transformative for Enzo and this new facility is just one sign of our company’s growth and our plans to expand our operations in several exciting new areas in the future. It is also a confirmation of our continued commitment to the business community here on Long Island,” said Hamid Erfanian, CEO of Enzo Biochem. “Our success is built on a unique business model and strategy in the laboratory services sector as Enzo’s efforts go far beyond just clinical testing. Every member of our team has worked tirelessly to partner and collaborate with customers in many diverse areas including patient care, basic research, and drug development.”
Local community leaders including New York State Senator John Brooks and New York Assembly member Steve Stern will be speaking at the event this morning along with members of Enzo Biochem’s executive leadership team including Hamid Erfanian, CEO, and Kara Cannon, COO. The company will be hosting representatives from leading universities on Long Island. The program also includes a tour of the new laboratory facilities highlighting some of the most advanced technologies available today in clinical laboratory operations and diagnostic services. Empire State Development (ESD) recently announced establishment of a new $350 million Long Island Investment Fund (LIIF) that will support transformative projects to strengthen Long Island’s economy. This Fund will support large-scale projects designed to build the regional economy, enhance communities, and have lasting impacts across the Long Island region.
“This new facility will help us expand our leadership in key areas including life sciences, which is also a priority focus for Governor Kathy Hochul and other government leaders,” said Mr. Erfanian “Enzo was founded in New York 46 years ago and continues to deepen its roots within the center of the island. We remain committed to supporting the success of this region, which offers access to outstanding, highly trained and experienced employees often emanating from the fine Long Island based colleges and universities. We look forward to building on the momentum of this past year with new strategies to support local businesses and are excited about our plans to further expand operations and target new global business opportunities in the years ahead.”
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 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, 2021. 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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