SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) JUNE 30, 1995 ENZON,
INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-12957 22-237286
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification)
20 KINGSBRIDGE ROAD, PISCATAWAY, NEW JERSEY 08854
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 980-4500
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
Enzon, Inc. ("Enzon" or the "Company") and Schering Corporation, a
subsidiary of Schering-Plough Corporation ("Schering"), have further
amended (the "Revised Agreement") their November 1990 license and
development agreement for PEG-INTRON A (the "Original Agreement"). Under
the Revised Agreement, Schering will obtain Enzon's proprietary know-how
for PEG-Intron A and acquire manufacturing rights previously held by Enzon
with respect to manufacturing PEG-Intron A. Enzon has an option to become
Schering's exclusive manufacturer of PEG-INTRON A for the U.S. market.
Schering will retain exclusive worldwide marketing rights for PEG-INTRON A
and continue to be responsible for conducting clinical studies and securing
regulatory approval. Enzon is entitled to receive the milestone payments
and royalties provided by the Original Agreement. In addition to such
milestone payments, Schering paid to Enzon a $2,000,000 license fee with an
additional $1,000,000 to be paid upon completion of the technology
transfer. Last quarter Enzon delivered to Schering two PEG-INTRON A
formulations having improved performance characteristics for anticipated
clinical trials.
Concurrently with executing the Revised Agreement, Schering purchased
847,849 shares (the "Shares") of Enzon's common stock, $.01 par value, for
aggregate consideration of $2,000,000. Schering received demand
registration rights exercisable no sooner than January 1996 and piggy-back
registration rights with respect to the Shares.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: July 20, 1995
ENZON, INC.
(Registrant)
By: /S/ JOHN A. CARUSO John A.
Caruso
Vice President,Business Development
and General Counsel