Enzon Announces Award in Arbitration With Yoshitomi for recombinant HSA.Business & Health Editors PISCATAWAY, NJ--(BUSINESS WIRE)--Feb. 23, 2000 Enzon, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ENZN) announced today that arbitrators have ruled in a royalty dispute between Enzon and Yoshitomi Pharmaceutical Industries, Inc. Enzon was awarded a one-percent royalty on Yoshitomi sales of recombinant Human Serum Albumin serum albumin n. See seralbumin. (rHSA) in Asia, North America and South America. The product does not include any of Enzon's platform technologies. The dispute began in 1998 regarding the royalties payable on sales occurring in all licensed territories during the 15-year period after the first approval in any country. In November 1997, Green Cross, the predecessor to Yoshitomi, filed for approval to sell rHSA in Japan. Enzon is a biopharmaceutical company developing advanced therapeutics for life-threatening diseases through the application of its proprietary drug delivery and targeting technologies, PEG Modification, Pro Drug/Transport technology and Single-Chain Antigen-Binding (SCA (Single Connector Attachment) An 80-pin plug and socket used to connect peripherals. With a SCSI drive, it rolls three cables (power, data channel and ID configuration) into one connector for fast installation and removal. (r)) protein technology. Enzon has several products in various stages of clinical development by itself and with partners, including PEG-Intron with Schering-Plough, which is in Phase III clinical trials for malignant melanoma, chronic myelogenous leukemia Chronic myelogenous leukemia (CML) Also called chronic myelocytic leukemia, malignant disorder that involves abnormal accumulation of white cells in the marrow and bloodstream. Mentioned in: Bone Marrow Transplantation and in combination treatment with Schering-Plough's product REBETOL(r) for the treatment of hepatitis C. Schering-Plough has filed for marketing approval in the U.S. and Europe for PEG-INTRON for the treatment of chronic hepatitis C. Enzon also has two products on the market, ONCASPAR, which is used to treat Acute Lymphoblastic Leukemia acute lymphoblastic leukemia n. Abbr. ALL Lymphoblastic leukemia occurring mainly in older adults, characterized by rapid onset and progression of symptoms. Also called acute lymphocytic leukemia. (ALL), and ADAGEN a treatment for a form of Severe Combined Immunodeficiency Disease Noun 1. severe combined immunodeficiency disease - a congenital disease affecting T cells that can result from a mutation in any one of several different genes; children with it are susceptible to infectious disease; if untreated it is lethal within the first year or (SCID SCID severe combined immunodeficiency (disease); see under immunodeficiency. SCID abbr. severe combined immunodeficiency SCID severe combined immunodeficiency disease. ), commonly known as the "Bubble Boy Disease". Enzon develops and markets products on its own and through strategic alliances, which in addition to Schering-Plough Corporation include Alexion Pharmaceuticals, Inc., Baxter Healthcare Corporation, Bristol-Myers Squibb Company, Eli Lilly & Company, and Rhone-Poulenc Rorer Pharmaceuticals, Inc. Certain statements made in this press release related to potential government approvals, market potential, commercialization and sales revenues of medical products and biologics, as well as their therapeutic applications and outcomes, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such statements involve risks and uncertainties, which may differ materially from those set forth in these statements. In addition, the economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission could affect such results. This release is also available at http://www.enzon.com |
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