Enzo Biochem Says PerkinElmer To Pay $7 Mln In Escrow In Settlement

(RTTNews) - Integrated life sciences and biotechnology company Enzo Biochem, Inc. (ENZ) Monday announced that the firm, along with its subsidiary Enzo Life Sciences, Inc., has entered into a settlement with PerkinElmer, Inc (PKI) and PerkinElmer Health Sciences, Inc. The company noted that PerkinElmer has agreed to pay $7 million in escrow in settlement pursuant to the agreement.

The settlement is related to an action between Enzo Biochem and PerkinElmer before the U.S. District Court, Southern District of New York.

Enzo Biochem provides molecular diagnostics, and leads the convergence of clinical laboratories, life sciences and therapeutics through the development of unique diagnostic platform technologies.

Enzo Biochem stock settled on Friday at $5.41, up $0.07 or 1.31 percent. PerkinElmer settled at $47.11, up $0.29 or 0.62 percent.