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UNITED STATES
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): September 29, 2004
ENZON PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-12957 22-2372868
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification)
685 Route 202/206, Bridgewater, New Jersey 08807
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code: (908) 541-8600
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Item 5.02 Election of Director
Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) today announced that Jeffrey H.
Buchalter, 47, has been elected non-executive chairman of the Company's board of
directors effective immediately. Mr. Buchalter succeeds Arthur J. Higgins who
has decided to step down as non-executive chairman but will remain a director of
the Company. Mr. Buchalter is currently serving as President, Chief Executive
Officer, and Director of Ilex Oncology, Inc. (Nasdaq: ILXO) in San Antonio
Texas.
Mr. Buchalter joined Ilex in 2001 and has led the company's transformation from
a drug development contract research organization to a fully integrated
product-driven pharmaceutical company, with a high quality oncology franchise
and established commercialization expertise.
Mr. Buchalter has more than 20 years of pharmaceutical experience and has held
key positions at a number of multinational pharmaceutical companies. Throughout
his career, he has directed the development and commercialization of a number of
innovative products to meet the needs of healthcare professionals and patients
worldwide. From 1997 to 2000 as Group Vice President and Head of the Worldwide
Oncology Franchise at Pharmacia Corporation, Mr. Buchalter was pivotal in
strategically building the company's global oncology franchise through new
product approvals and launches, as well as the 1999 acquisition of Sugen, Inc.,
a transaction that enhanced Pharmacia's drug discovery and development
capabilities and oncology pipeline.
Before joining Pharmacia, Mr. Buchalter held positions at Wyeth (NYSE: WYE),
formerly American Home Products, and Schering-Plough Corporation (NYSE: SGP).
From 1993 to 1997, as Group Director for the women's healthcare business of
American Home Products, he played a key role in the life cycle management of its
multibillion-dollar drug PREMARIN(R) (conjugated estrogens tablets, USP) and
helped to develop and commercialize the hormone replacement therapy PREMPRO(TM)
(conjugated estrogens/medroxyprogesterone acetate tablets). While with Schering
Plough Corporation (NYSE: SGP) in the late 1980s and early 1990s, Mr. Buchalter
led the launch of INTRON(R) A (interferon alpha-2b), one of the first cytokines
to be approved for hairy cell leukemia.
Among his career honors, Mr. Buchalter received the Joseph F. Buckley Memorial
Award from the American Cancer Society for commitment to cancer control and
involvement in the oncology pharmaceutical field. Additionally, the former
President George Bush invited him to serve as a collaborating partner in the
National Dialogue on Cancer. Mr. Buchalter received a Bachelor of Science degree
in finance from Seton Hall University and a Master of Business Administration in
marketing from Temple University.
Enzon Pharmaceuticals is a biopharmaceutical company dedicated to the discovery,
development and commercialization of therapeutics to treat life-threatening
diseases. The Company has developed or acquired a number of marketed products,
including PEG-INTRON(R), marketed by Schering-Plough, and ABELCET(R),
ONCASPAR(R), ADAGEN(R), and DEPOCYT(R), marketed in North America by Enzon's
specialized sales force. Enzon's science-driven strategy includes an extensive
drug development program that leverages the Company's macromolecular engineering
technology platforms, including PEG modification and single-chain antibody
(SCA(R)) technologies. Internal research and development efforts are
complemented by strategic
transactions that provide access to additional marketed products and promising
clinical compounds. Enzon has several drug candidates in various stages of
development, independently and with partners, including Marqibo(R), for which a
U.S. marketing application is currently being reviewed by the FDA for the
treatment of relapsed aggressive non-Hodgkin's lymphoma. Further information
about Enzon and this press release can be found on the Company's web site at
www.enzon.com.
The above statement regarding our expectation that we will name Enzon's new
president and chief executive officer during the fourth quarter of calendar 2004
is a forward-looking statement. As such, it involves risks and uncertainties
that may cause actual future events to be different from those predicted in the
forward-looking statement. These risks and uncertainties include, among other
things, the risk that our lead candidate could receive and accept an alternative
offer of employment from another company and the risk that we may not be able to
reach agreement with our lead candidate on all the terms and conditions of
employment. These and other risks could cause the time-frame for naming our new
president and chief executive officer to extend beyond our current expectations.
All information in this press release is as of September 29, 2004 and the
Company undertakes no duty to update this information.
Item 9.01 Financial Statements and Exhibits
Exhibit 99.1 Press Release dated September 29, 2004
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: September 29, 2004
By: /s/ Kenneth J. Zuerblis
--------------------------------
Kenneth J. Zuerblis
Vice President, Finance and
Chief Financial Officer
Exhibit 99.1
ENZON
PHARMACEUTICALS For Immediate Release
PRESS RELEASE Contact: Susan M. Mesco
Director, Investor Relations
(908) 541-8777
Euro RSCG Life NRP
Mark R. Vincent, Media Relations
(212) 845-4239
ENZON PHARMACEUTICALS NAMES JEFFREY H. BUCHALTER NON-
EXECUTIVE CHAIRMAN OF THE BOARD
Bridgewater, NJ - September 29, 2004 - Enzon Pharmaceuticals, Inc. (Nasdaq:
ENZN) today announced that Jeffrey H. Buchalter, 47, has been elected
non-executive chairman of the Company's board of directors effective
immediately. Mr. Buchalter succeeds Arthur J. Higgins who has decided to step
down as non-executive chairman but will remain a director of the Company. Mr.
Buchalter is currently serving as President, Chief Executive Officer, and
Director of Ilex Oncology, Inc. (Nasdaq: ILXO) in San Antonio Texas.
"Jeff's extensive industry experience, successful track record in developing and
commercializing pharmaceutical products, and demonstrated leadership in building
a successful oncology-focused pharmaceutical company make him the ideal
individual to lead Enzon's board of directors," said Arthur J. Higgins, Enzon's
non-executive chairman. "Over the past several months, Enzon's directors have
been very committed to finalize the search process for my successor. Today's
announcement marks an important first step in formalizing Enzon's leadership for
its next stage of growth. We expect to name Enzon's president and chief
executive officer during the fourth quarter of calendar 2004."
Mr. Buchalter joined Ilex in 2001 and has led the company's transformation from
a drug development contract research organization to a fully integrated
product-driven pharmaceutical company, with a high quality oncology franchise
and established commercialization expertise.
Mr. Buchalter has more than 20 years of pharmaceutical experience and has held
key positions at a number of multinational pharmaceutical companies. Throughout
his career, he has directed the development and commercialization of a number of
innovative products to meet the needs of healthcare professionals and patients
worldwide. From 1997 to 2000 as Group Vice President and Head of the Worldwide
Oncology Franchise at Pharmacia Corporation, Mr. Buchalter was pivotal in
strategically building the company's global oncology franchise through new
product approvals and launches, as well as the 1999 acquisition of Sugen, Inc.,
a transaction that enhanced Pharmacia's drug discovery and development
capabilities and oncology pipeline.
Before joining Pharmacia, Mr. Buchalter held positions at Wyeth (NYSE: WYE),
formerly
-more-
685 Route 202/206 Bridgewater, NJ 08807
Phone: (908) 541-8600 Fax: (908) 575-9457
http://www.enzon.com
Chairman 2004/Page 2
American Home Products, and Schering-Plough Corporation (NYSE: SGP). From 1993
to 1997, as Group Director for the women's healthcare business of American Home
Products, he played a key role in the life cycle management of its
multibillion-dollar drug PREMARIN(R) (conjugated estrogens tablets, USP) and
helped to develop and commercialize the hormone replacement therapy PREMPROTM
(conjugated estrogens/medroxyprogesterone acetate tablets). While with Schering
Plough Corporation (NYSE: SGP) in the late 1980s and early 1990s, Mr. Buchalter
led the launch of INTRON(R) A (interferon alpha-2b), one of the first cytokines
to be approved for hairy cell leukemia.
Among his career honors, Mr. Buchalter received the Joseph F. Buckley Memorial
Award from the American Cancer Society for commitment to cancer control and
involvement in the oncology pharmaceutical field. Additionally, the former
President George Bush invited him to serve as a collaborating partner in the
National Dialogue on Cancer. Mr. Buchalter received a Bachelor of Science degree
in finance from Seton Hall University and a Master of Business Administration in
marketing from Temple University.
Enzon Pharmaceuticals is a biopharmaceutical company dedicated to the discovery,
development and commercialization of therapeutics to treat life-threatening
diseases. The Company has developed or acquired a number of marketed products,
including PEG-INTRON(R), marketed by Schering-Plough, and ABELCET(R),
ONCASPAR(R), ADAGEN(R), and DEPOCYT(R), marketed in North America by Enzon's
specialized sales force. Enzon's science-driven strategy includes an extensive
drug development program that leverages the Company's macromolecular engineering
technology platforms, including PEG modification and single-chain antibody
(SCA(R)) technologies. Internal research and development efforts are
complemented by strategic transactions that provide access to additional
marketed products and promising clinical compounds. Enzon has several drug
candidates in various stages of development, independently and with partners,
including Marqibo(R), for which a U.S. marketing application is currently being
reviewed by the FDA for the treatment of relapsed aggressive non-Hodgkin's
lymphoma. Further information about Enzon and this press release can be found on
the Company's web site at www.enzon.com.
The above statement regarding our expectation that we will name Enzon's new
president and chief executive officer during the fourth quarter of calendar 2004
is a forward-looking statement. As such, it involves risks and uncertainties
that may cause actual future events to be different from those predicted in the
forward-looking statement. These risks and uncertainties include, among other
things, the risk that our lead candidate could receive and accept an alternative
offer of employment from another company and the risk that we may not be able to
reach agreement with our lead candidate on all the terms and conditions of
employment. These and other risks could cause the time-frame for naming our new
president and chief executive officer to extend beyond our current expectations.
All information in this press release is as of September 29, 2004 and the
Company undertakes no duty to update this information.
# # #
685 Route 202/206 Bridgewater, NJ 08807
Phone: (908) 541-8600 Fax: (908) 575-9457
http://www.enzon.com