Enzon Announces Inhale PEGylation Agreements.Business Editors and Medical/Health Writers PISCATAWAY, N.J.--(BUSINESS WIRE)--Feb. 26, 2002 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 Inhale Therapeutics Systems, Inc. (NASDAQ: INHL) has entered into two licensing agreements, which will involve Enzon's proprietary PEG technology. Today Inhale disclosed a collaborative agreement between Pharmacia Corporation (NYSE NYSE See: New York Stock Exchange :PHA PHA abbr. phytohemagglutinin PHA phytohemagglutinin, a plant lectin. ) and Inhale's subsidiary Shearwater Corporation to provide proprietary PEGylation technology for Pharmacia's investigational new therapy, called CDP870. CDP870 has completed Phase II clinical testing for the treatment of rheumatoid arthritis. Inhale also announced an agreement with Eyetech Pharmaceuticals, Inc., a privately held biopharmaceutical company based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Eyetech is currently conducting a Phase II/III pivotal clinical trial of EYE001, a PEGylated aptamer, for the treatment of age-related macular degeneration Age-related macular degeneration (ARMD) Degeneration of the macula (the central part of the retina where the rods and cones are most dense) that leads to loss of central vision in people over 60. . These two products utilize Enzon's PEG technology and Enzon will receive a royalty or a share of profits on final product sales of any such products. In January 2002, Enzon and Inhale announced the formation of a broad strategic alliance, under which Enzon granted Inhale the exclusive right to grant sub-licenses for Enzon's PEG technology to third parties. Enzon retains the right to use all of its PEG technology for its own product portfolio, as well as for those products it develops in co-commercialization collaborations with third parties. It is the intent of the parties that Inhale will be responsible for marketing PEG services and Enzon and Inhale PEG technology to third parties. Enzon is a biopharmaceutical company that develops and commercializes enhanced therapeutics for life-threatening diseases through the application of its proprietary platform technologies: PEG Modification and single-chain antibodies (SCA(R)). Three products are currently marketed which utilize Enzon's technology: PEG-INTRON(R) marketed by Schering-Plough for hepatitis C, ONCASPAR(R) for 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(R) 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." In addition to three approved products, Enzon has several products in various stages of clinical development by itself and with partners, including additional indications for PEG-INTRON with Schering-Plough. A Phase III clinical trial Noun 1. phase III clinical trial - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the is being conducted for PEG-INTRON for the treatment of malignant melanoma. 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 Aventis. Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors, which are described in the Company's Form 10-K, Form 10-Q's and Form 8-K's on file with the SEC, including without limitation, risks in obtaining and maintaining regulatory approval for indications and expanded indications, market acceptance of and continuing demand for Enzon's products and the impact of competitive products and pricing. This release is also available at http://www.enzon.com |
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