Navigation Links
Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
Date:8/27/2007

TORONTO, Aug. 27 /PRNewswire/ -- Drug Royalty LP 2 (DRC) announced today the purchase of 25% of Enzon Pharmaceuticals, Inc.'s (ENZN) worldwide royalty interest in PEG-INTRON for $92.5M. DRC will also provide a $15M milestone payment in 2012 should certain royalty recognition levels be met. PEG-INTRON (peginterferon alpha-2b), is approved for the treatment of Hepatitis C and is marketed worldwide by Schering-Plough Corporation (SGP).

Speaking on behalf of DRC, Paul Kirkconnell, Managing Director, said: "DRC is very pleased to be working with Enzon Pharmaceuticals. We believe that PEG- INTRON is one of the most advanced medications to treat Hepatitis C on the market today." Kirkconnell added, "With access to significant capital and a long track record in completing royalty transactions, we take pride in meeting the needs of pharmaceutical companies such as Enzon."

About PEG-INTRON(R)

PEG-INTRON is a PEG-enhanced version of Schering-Plough's alpha interferon product, INTRON(R) A, which is used both as a monotherapy and in combination with REBETOL(R) (ribavirin) capsules for the treatment of chronic hepatitis C. Under Enzon's license agreement with Schering-Plough, Schering-Plough holds an exclusive worldwide license to PEG-INTRON, and Enzon receives royalties on worldwide sales of PEG-INTRON. Schering-Plough is responsible for all manufacturing, marketing, and development activities for PEG-INTRON. Enzon designed PEG-INTRON to allow for less frequent dosing and to yield greater efficacy, as compared to INTRON A. PEG-INTRON is marketed worldwide by Schering-Plough and its affiliates.

About Drug Royalty Corporation, Inc. (DRC)

Drug Royalty Corporation ("DRC") is a privately held investment management company, focused on the healthcare industry, with over $1 billion under management. DRC currently manages two funds: the Royalty Monetization Fund and the Structured Finance Fund.

Its Royalty Monetization Fund acquires existing royalty streams at competitive rates from companies, institutions and inventors. DRC is a leader in monetizing royalties, having acquired over $850 million in royalty-based cash flows on commercialized products.

Its Structured Finance Fund will soon close with approximately $300 million in committed capital. This Fund provides predominantly non-dilutive financing for product acquisitions and launches, M & A, in-licensing, sales force expansion and general working capital purposes to companies within the healthcare industry. The Fund invests in cash flow monetization structures which can include debt and equity components, custom tailored to fit the needs of clients.

About Enzon (ENZN)

Enzon Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to the development, manufacturing, commercialization of important medicines for patients with cancer and other life-threatening conditions. Enzon has a portfolio of four marketed products, Oncaspar(R), DepoCyt(R), Abelcet(R) and Adagen(R). The Company's drug development programs utilize several cutting- edge approaches, including its industry-leading PEGylation technology platform used to create product candidates with benefits such as reduced dosing frequency and less toxicity. Enzon's PEGylation technology was used to develop two of its products, Oncaspar and Adagen, and has created a royalty revenue stream from licensing partnerships for other products developed using the technology. Enzon also engages in contract manufacturing for several pharmaceutical companies to broaden the Company's revenue base. Further information about Enzon can be found on the Company's web site at http://www.enzon.com.


'/>"/>
SOURCE Drug Royalty Corporation, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Trouble-shooting: Misincorporation or low fidelity
2. Roche Diagnostics Corporation
3. Roche Diagnostics Corporation
4. Promega Corporation: Wisconsins quiet innovator
5. Giuliani will keynote RedPrairie Corporations user conference
6. Madison Development Corporation makes loans to three area companies
7. Corporations and blogging
8. Metavante acquires Florida banking corporation
9. TriMas Corporations Cequent Group Acquires Chem-Chrome, Inc.
10. Speaker announces business members of IT Task Force
11. Doyle announces technology tax credits for Berbee
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... 2017 The global biotechnology services outsourcing ... by 2025, according to a new report by ... adaptive of the function of outsourcing certain clinical ... the services outsourced, clinical trial management and contract ... Johnson was the first pharmaceutical company to outsource ...
(Date:1/18/2017)... India , January 18, 2017 According to a ... (Cancer Diagnosis, Neuroscience, Cytology, Infectious Disease), & End User (Molecular Diagnostic Laboratories, Academic ... is expected to reach USD 739.9 Million by 2021 from USD 557.1 Million ... Continue Reading ... MarketsandMarkets Logo ...
(Date:1/18/2017)... ... January 18, 2017 , ... ... Leven successfully implanted SpineFrontier’s A-CIFT™ Solofuse-P™. The operation took place on Wednesday, January ... NY. The procedure was an anterior cervical discectomy and fusion on a 42 ...
(Date:1/18/2017)... ... January 18, 2017 , ... DrugDev customers are ... Ops Executives (Hyatt Regency Miami, January 24-26). DrugDev will join customers including Pfizer, ... such as trial performance metrics, patient enrollment diversity, protocol optimization, and global site ...
Breaking Biology Technology:
(Date:1/11/2017)... , Jan. 11, 2017  Michael Johnson, co-founder of Visikol Inc. ... Group, Inc., has been named to the elite "Forbes 30 Under ... one of 600 people in 20 fields nationwide to be recognized ... the 15,000 applicants were selected. ... He is currently a PhD candidate at Rutgers University. ...
(Date:1/6/2017)... 2017  Delta ID Inc., a leader in consumer-grade ... automotive at CES® 2017. Delta ID has collaborated with ... the use of iris scanning as a secure, reliable ... in a car, and as a way to elevate ... Delta ID and Gentex will demonstrate (booth #7326 ...
(Date:1/3/2017)... 2017 Onitor, provider of digital health technology ... an innovative biometric data-driven program designed to aid weight ... the 2017 Consumer Electronics Show (CES) in ... U.S., the World Health Organization (WHO), have identified lifestyle ... who are overweight or obese. WHO also states that ...
Breaking Biology News(10 mins):