Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)

    TORONTO, Aug. 27 /CNW/ -- 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

For further information:

For further information: Paul Kirkconnell of Drug Royalty Corporation, 
Inc., +1-416-863-1865 ext. 236, pk@drugroyalty.com Web Site:
http://www.drugroyalty.com                  http://www.enzon.com

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