Ulrich M. Grau Joins Enzon as Chief Scientific Officer.Business Editors & Health/Medical Writers PISCATAWAY, NJ.--(BUSINESS WIRE)--March 18, 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 the appointment of Ulrich M. Grau, Ph.D. as the Company's Chief Scientific Officer. In this role, Dr. Grau will be responsible for advancing the Company's product pipeline; expanding its research and development programs and technology base; and advising the board and management on the scientific vision and direction of the Company. Dr. Grau brings over 20 years of experience from the biotechnology and pharmaceutical industry having directed numerous R&D programs. Most notably, Dr. Grau served as President of Research and Development at BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida Pharma and Senior VP Global Product Realization for Hoechst Marion Roussel. While at BASF, Dr. Grau directed a global R&D organization of approximately 1,500 employees, and significantly advanced and expanded the Company's product portfolio. At Hoechst, Dr. Grau served as Senior VP Global Product Realization, where he directed the company's late-stage product development activities. "A key pillar of Enzon's strategy to become a fully integrated pharmaceutical company is a commitment to excellence in research and development," said Arthur J. Higgins, Enzon's chairman and chief executive officer. "Ulrich is a respected and accomplished leader in pharmaceutical development whose past work experience at both BASF and Hoechst showcases an impressive track record of bringing products from research through the clinic to the marketplace." "I look forward to advancing the company's research program by building upon past successes, as well as expanding Enzon's pharmaceutical pipeline," said Dr. Grau. "Enzon's leading technologies, and management's commitment to broadening Enzon's research and clinical programs, were deciding factors in my accepting this position. With these elements in place, I am confident I will be able to successfully contribute to Enzon's vision." Jeffrey McGuire, Ph.D. has been named the Company's Senior Vice President of Scientific Affairs. In this capacity, Dr. McGuire will be reporting to Dr. Grau and will be focused on identifying and gaining access to new preclinical candidates and drug delivery technologies to expand the Company's proprietary pipeline. 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 (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)). Three products that utilize Enzon's technology are currently marketed: PEG-INTRON marketed by Schering-Plough for hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. , 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 Malignant Melanoma Definition Malignant melanoma is a type of cancer arising from the melanocyte cells of the skin. Melanocytes are cells in the skin that produce a pigment called melanin. . 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 Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were 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-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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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