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ENZON GRANTS BRISTOL-MYERS SQUIBB LICENSE FOR SCA(R) PROTEIN TECHNOLOGY

 PRINCETON, N.J., Dec. 7 /PRNewswire/ -- Bristol-Myers Squibb (NYSE: BMY) and Enzon, Inc. (NASDAQ-NMS: ENZN) announced today the signing of a license agreement for Enzon's Single-Chain Antigen-Binding (SCA)(R) protein technology.
 Bristol-Myers Squibb will apply the technology to develop cancer therapies based on antibodies targeting cancer cells. Enzon will receive an initial payment, milestone payments and royalties on Bristol-Myers Squibb's sales of SCA protein-based products.
 "We are pleased to add Bristol-Myers Squibb to our growing list of SCA protein licensees. This new agreement reflects the acceptance of the SCA technology in the pharmaceutical industry,", commented R. Douglas Hulse, Enzon's vice president of business development.
 SCA proteins are novel proprietary biomolecules designed to provide the binding specificity of monoclonal antibodies but in a smaller, more easily modified form. Based on work to date in animal models, Enzon expects SCA proteins may demonstrate enhanced performance in many therapeutic, diagnostic, and process applications for which conventional monoclonal antibodies are currently used or being developed.
 According to Ronald Pepin, director, Licensing, Biotechnology at Bristol-Myers Squibb, "We believe that Enzon's technology has the potential to optimize our efforts to develop enhanced monoclonal antibody-based therapeutics."
 Commenting on Bristol-Myers Squibb's interest in SCA proteins, Kenneth E. Weg, president, Bristol-Myers Squibb Pharmaceutical Group, said, "Innovations in the application of antibodies and other biologics will bring about new, important pharmaceutical products. Enzon's SCA technology is expected to contribute to Bristol-Myers Squibb's leadership position in the pharmaceutical/biotechnology industry."
 Since 1991, Enzon has aggressively marketed the SCA| technology to companies active in monoclonal antibody research. To date, the Company has entered into a broad array of licensing arrangements with industry leaders including Baxter Healthcare; Hybritech, a subsidiary of Eli Lilly; Neoprobe Corporation and others.
 Enzon, Inc. is a biotechnology company developing advanced therapeutics for life-threatening diseases through the application of its proprietary technologies, PEGNOLOGY(R) and Single-Chain Antigen-Binding (SCA) proteins. Enzon's research and product development activities focus on genetic diseases, cancer therapy and blood substitutes. Enzon also pursues commercialization of its technologies through strategic alliances. Enzon is headquartered in Piscataway, N.J.
 Bristol-Myers Squibb is a research-based, diversified healthcare company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices. It is among the world's leading makers of cardiovascular, anticancer, anti-infective, central nervous system and dermatological drug therapies, diagnostic agents and non-prescription medicines.
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 /CONTACT: Kathleen O'Donnell of Bristol-Myers Squibb, 609-252-4350, or Debora Demarest or Judi Glova of Enzon, 908-980-4564/
 (BMY ENZN)


CO: Bristol-Myers Squibb; Enzon, Inc. ST: New Jersey IN: MTC SU: LIC

JM -- PH001 -- 1147 12/07/93 08:32 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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