Enzo Biochem Initiates Strategic Review to Explore Opportunities for Enhancing Shareholder Value
Formation of Special Committee and Engagement of Advisors
Enzo Biochem, Inc. (OTCQX: ENZB), a life sciences company headquartered in Farmingdale, NY, announced on April 22, 2025, that its Board of Directors has launched a comprehensive review of strategic alternatives. This decision follows a recent increase in inquiries about potential transactions involving the company. To oversee this evaluation process, the Board established a Special Committee composed of independent directors tasked with exploring a wide array of options aimed at maximizing shareholder value.
The scope of the review includes possibilities such as strategic transactions, mergers or business combinations, the complete sale of the company, or returning excess capital to shareholders. To support this extensive evaluation, Enzo’s Special Committee has retained BroadOak Capital Partners as its financial advisor and BakerHostetler LLP as legal counsel.
Commitment to a Thorough and Objective Evaluation
Steven Pully, Enzo’s Chairman of the Board and a member of the newly-formed Strategic Committee, emphasized the Board’s dedication to a rigorous and impartial process. He noted that Enzo’s well-established life sciences operations and its advanced manufacturing capabilities across both the United States and Europe position the company strongly within its dynamic industry landscape.
Over the past 18 months, Enzo’s management team has successfully implemented initiatives aimed at addressing past operational challenges while driving efficiencies throughout the organization. Mr. Pully explained that forming this Special Committee at this juncture allows the company to carefully consider all viable opportunities before providing any recommendations to the full Board.
Ongoing Focus on Operational Efficiency and Value Creation
While this strategic assessment is underway, Enzo remains vigilant in its operational discipline, maintaining a strong focus on cost containment and cash preservation. The company continues to execute near-term initiatives designed to enhance value, underscoring its commitment to delivering shareholder benefits regardless of the review’s outcome.
The Board has not established a specific timeline for completing this review and remains open to all potential paths forward. Importantly, there is no predetermined bias toward any particular strategic alternative, and no assurance exists that this process will result in a definitive transaction or other resolution. Enzo intends to keep the market informed of any material developments deemed appropriate or necessary during the course of the review.
Overview of Enzo Biochem
For over 45 years, Enzo Biochem has operated in the life sciences sector, focusing primarily on advanced labeling and detection technologies across areas from DNA analysis to whole-cell examination. Today, Enzo Life Sciences, the company’s primary division, offers an extensive portfolio that includes thousands of high-quality products such as antibodies, genomic probes, assays, biochemicals, and proteins.
Enzo’s proprietary technologies play a significant role in critical fields such as translational research, drug development, cell biology, genomics, immunohistochemistry, and small molecule chemistry. The company primarily generates revenue through global product sales and licensing agreements. Enzo continues its mission to advance scientific research and patient care by leveraging its innovation and manufacturing expertise.
Recent Stock Listing Update
As disclosed in a recent regulatory filing on April 21, 2025, Enzo Biochem completed the transfer of its stock listing from the New York Stock Exchange (NYSE) to the OTC market. The company’s shares continue to trade under the ticker symbol OTCQX: ENZB.
Forward-Looking Statements
This announcement contains forward-looking statements that reflect the company’s current expectations and beliefs about its strategic review and future opportunities. These statements involve risks and uncertainties, including factors beyond Enzo’s control such as operational performance, market conditions, interest from investors or potential acquirers, regulatory developments, and broader economic circumstances.
The company cautions investors not to rely unduly on these forward-looking statements, which are not guarantees of future results. Enzo assumes no obligation to update these statements following the issuance of this press release or due to events occurring thereafter. For a detailed discussion of risks, investors should consult the company’s annual report.
Contact Information
For further inquiries, please contact:
Patricia Eckert
Chief Financial Officer
Phone: 631-755-5500
Email: [email protected]