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:2/24/2017)... , Feb. 24, 2017 Provectus Biopharmaceuticals, ... the "Company"), a clinical-stage oncology and dermatology biopharmaceutical ... deadline to participate in its previously announced rights ... of shares of common stock and Series C ... of listed warrants. As previously ...
(Date:2/24/2017)... Cord Blood Corporation (NYSE: CO ) ("CCBC" ... collection, laboratory testing, hematopoietic stem cell processing and stem ... for the third quarter and first nine months of ... Third Quarter of Fiscal 2017 Highlights ... by 18.6% to RMB200.9 million ($28.9 million). ...
(Date:2/24/2017)... DIEGO , Feb. 24, 2017  OncoSec Medical ... cancer immunotherapies, will host a Key Opinion Leader event ... as an oral and poster presentation at the upcoming ... plan. The KOL event will be held in-person and ... PM EST / 9:00 AM PST at the Lotte ...
(Date:2/23/2017)... /PRNewswire/ - The Fight Against Cancer Innovation Trust (FACIT) ... pleased to report that Fusion Pharmaceuticals Inc. (Fusion) has ... Johnson Innovation – JJDC, Inc. (JJDC) as the lead ... Biotechnology Partners, and Genesys Capital, as well as founding ... ...
Breaking Biology Technology:
(Date:2/13/2017)... Feb. 13, 2017  RSA Conference -- RSA, a ... is designed to enhance fraud detection and investigation ... the RSA Fraud & Risk Intelligence Suite. The ... leverage additional insights from internal and external sources ... protect their customers from targeted cybercrime attacks. ...
(Date:2/8/2017)... 8, 2017 About Voice Recognition Biometrics Voice ... it against a stored voiceprint template. Acoustic features ... and tone are compared to distinguish between individual ... as most PCs already have a microphone and ... recognition biometrics are most likely to be deployed ...
(Date:2/8/2017)... LONDON , Feb. 7, 2017 Report ... $12.5 billion by 2021 from $8.3 billion in 2016 ... from 2016 to 2021. Report Includes - An ... of global market trends, with data from 2015 and ... through 2021. - Segmentation of the market on the ...
Breaking Biology News(10 mins):