SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 30, 2019
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction of incorporation)||
(Commission File Number)
|(IRS Employer Identification No.)|
|20 Commerce Drive (Suite 135), Cranford, New Jersey
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
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Item 8.01 Other Events.
Letter Agreement with Servier IP UK Limited
On January 30, 2019, Enzon Pharmaceuticals, Inc. (the “Company”) entered into a letter agreement with Servier IP UK Limited (“Servier IP UK”), a wholly owned indirect subsidiary of Les Laboratoires Servier, in connection with the asset purchase agreement, dated as of November 9, 2009 (the “Asset Purchase Agreement”), by and between Klee Pharmaceuticals, Inc., Defiante Farmacêutica, S.A. (“Defiante”) and Sigma-Tau Finanziaria S.p.A., on the one hand, and the Company, on the other hand. Under the letter agreement, Servier IP UK, as successor-in-interest to Defiante, has confirmed its obligation to pay the Company a $7.0 million milestone payment related to SC Oncaspar as a result of the U.S. Food and Drug Administration’s December 20, 2018 approval of calaspargase pegol – mkn (brand name ASPARLAS™) as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia in pediatric and young adult patients age 1 month to 21 years. In addition, under the letter agreement, the Company has agreed to waive Servier IP UK’s obligations to pursue the development of SC Oncaspar in Europe and the approval of SC Oncaspar by the European Medicines Agency (“EMEA”) under the Asset Purchase Agreement, provided that the Company is not waiving Servier IP UK’s obligation to make any applicable milestone payment to the Company upon EMEA approval, if any, of SC Oncaspar. Servier IP UK is required to pay the $7.0 million milestone payment to the Company within three business days following the parties’ completion of procedures for claiming benefits under the double tax treaty between the United States and the United Kingdom. The Company expects to receive the $7.0 million milestone payment from Servier IP UK by the third quarter of 2019. However, no assurance can be given as to the timing of the Company’s receipt of the payment.
Special Cash Dividend
On January 30, 2019, the Board of Directors of the Company declared a special cash dividend of $0.06 per share of the Company’s common stock, payable on March 21, 2019 to stockholders of record as of the close of business on February 21, 2019.
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.
|ENZON PHARMACEUTICALS, INC.|
|Date: January 31, 2019||By:||
|Richard L. Feinstein|
|Name:||Richard L. Feinstein|
|Title:||Vice President-Finance and Chief Financial Officer|