Market Overview

Enzo Biochem to Acquire New Facility for Manufacturing and Distribution to Advance Its Diagnostic and Therapeutic Growth Strategy


Facility Will Enhance Enzo's Ability to Produce and Distribute Its
Growing Portfolio of Molecular Assays, Immunohistochemistry,
Immunoassays and Immuno-oncology Products and Services

Anticipates Significant Tax and Other Incentives for Enzo's Entire
Farmingdale New York Campus

Enzo Biochem, Inc. (NYSE:ENZ), an integrated diagnostic and therapeutics
company, announced today that, as part of implementing its growth
strategy, it has entered into an agreement to purchase a commercial
facility with nearly 36,000 square feet in Farmingdale, NY. The building
is adjacent to the Company's current Long Island campus and enhances the
infrastructure needed to produce and distribute Enzo's expanding low
cost, diagnostic platform products and related services. The Company's
platform development includes automation-compatible reagent systems and
associated products for sample collection and processing through

In connection with the acquisition of the new facility, the Company has
Town of Babylon Industrial Development Agency (IDA) commitments that
will provide Enzo with significant multi-year tax abatements and
additional incentives with respect to its entire Farmingdale campus.

The purchase of the facility for $6.0 million extends Enzo's
Farmingdale, NY campus to nearly 101,000 square feet, complementing the
Company's existing sites in Michigan, Switzerland, France and Belgium.
It will provide Good Manufacturing Practices (GMP) and ISO compliant
manufacturing and logistics space for Enzo's diagnostics and life
science products business. Moreover, the new facility will enhance space
for GMP production of the Company's development-stage clinical
candidates, including Enzo's proprietary sphingosine kinase 1 inhibitor,
SK1-I, which is being investigated for potential applications in
oncology and autoimmune diseases.

The new facility and campus expansion represents another step forward in
Enzo's strategy to develop and deliver affordable automated open system
platform and products and associated services to address the
cost-pressured clinical diagnostics marketplace. The molecular
diagnostic market is valued in excess of $5 billion and contains several
segments, such as Viral Load testing, Women's Health and HPV testing.
Enzo has already received New York State approval on a Women's Health
panel, and Enzo's pipeline includes a Viral Load panel and HPV screening
for use on the Company's platforms. The campus expansion will facilitate
Enzo's efforts to obtain FDA approval and CE marking-to-market as
diagnostics its approved laboratory developed tests (LDTs).

"Our strategy remains focused on offering the market quality, affordable
testing solutions to high cost, high volume market segments," said Barry
Weiner, Enzo President. "At this point in time, more than anything else,
our customers need cost of goods savings. To achieve this, we have taken
common workflows and applied Enzo's innovative technical expertise to
each platform part in order to achieve integrative cost effective

The Company's continuing development activities are directed to each
step of the clinical testing process, from sample collection and
processing through analysis. The Company's programs include
manufacturing each of the components required for each step in the
diagnostic process for integration into an open platform. Enzo's system
solutions will enable clinical laboratories to more effectively
participate in the diagnostics market where declining reimbursements and
rigid costs from suppliers currently prevail.

Building on prior progress in the molecular diagnostics and immunoassay
areas, Enzo recently announced the validation of three clinically
relevant, cost-efficient immunohistochemistry (IHC) biomarker detection
tests for charting the progression of various cancers, especially in the
field of women's health. These tests operate with the Company's open
system workflow and complement Enzo's strategy of introducing lower cost
testing solutions to the global IHC market that is projected to reach
over $2 billion by 2021.

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 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 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, 2017. 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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