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Enzon's Oncaspar-IV Gets Orphan Drug Status

September 30, 2008

Enzon Pharmaceuticals, Inc. received approval from the Commission of the European Communities for designation of Oncaspar-IV, the next-gen pegylated L-asparaginase, as an orphan medicinal product.
Orphan drug designation creates favorable conditions for the development of drugs, including potential financial incentives, in addition to market exclusivity for as many as 10 years following approval.
“This announcement is a significant milestone in our overall plan to market the new Oncaspar-IV in new geographic territories.” said Jeffrey H. Buchalter, chairman and chief executive officer of Enzon. “We are currently developing the next-generation Oncaspar product to enhance the pharmaceutical properties of the approved version currently marketed in the U.S.”