View:
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) January 2, 1997
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") announced the appointment of Rolf A.
Classon to the Company's Board of Directors effective January 2, 1997. Mr.
Classon is currently president of Bayer Diagnostics, part of the Bayer Group,
and executive vice president of Bayer Corporation.
Mr. Classon joined Bayer in 1991 as senior vice president of marketing,
sales and service. From 1990-1991, Mr. Classon served as president and chief
operating officer of Pharmacia Biosystems AB. From 1984-1990 he was president of
Pharmacia Development Company, Inc. and served as president of Pharmacia AB
Hospital Products Division from 1981- 1984.
Mr. Classon's additional experience includes serving as a division general
manager for Swedish Match Group from 1979-1980, working as a consultant from
1974-1978 for a leading Scandinavian consulting firm specializing in strategic
planning and restructuring, and serving as director of organizational
development of Pharmacia AB from 1969-1974.
Also, on January 6, 1997, Enzon was served with a complaint by LBC Capital
Resources, Inc. ("LBC"), that was filed on December 17, 1996, in the United
States District Court for the District of New Jersey (Civil Action No.
96-5919(JCL)) asserting that under the May 2, 1995, letter agreement ("Letter
Agreement") between Enzon and LBC, LBC was entitled to a commission comprised of
$500,000 in cash and warrants to purchase 1,000,000 shares of Enzon common stock
at an exercise price of $2.50 per share in connection with the 1996 financing
transactions (collectively, the "Financings") the Company entered into with
affiliates of Genesee Advisers ("Genesee"). LBC has also asserted that it is
entitled to an additional fee
- 2 -
of $175,000 in cash and warrants to purchase 250,000 shares of Enzon common
stock when and if Genesee exercises any of the warrants obtained pursuant to the
Financings. LBC has claimed $3 million in compensatory damages, plus punitive
damages, counsel fees and costs for the alleged breach of the Letter Agreement.
The Company believes that no such commission was due under the Letter Agreement
and denies any liability under the Letter Agreement. The Company intends to
defend this lawsuit vigorously.
- 3 -
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: January 16, 1997
ENZON, INC.
(Registrant)
By: /S/ KENNETH J. ZUERBLIS
---------------------------
Kenneth J. Zuerblis
Vice President, Finance
and Chief Financial
Officer
- 4 -