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) February 26, 2002

ENZON, 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)

20 Kingsbridge Road, Piscataway, New Jersey 08854
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (732) 980-4500

NA
(Former name or former address, if changed since last report

Item 5. Other Events

On  February  26,  2002,  Enzon,  Inc.  ("Enzon")   announced  that  Inhale
Therapeutics Systems, Inc. ("Inhale") has entered into two licensing agreements,
which will involve Enzon's proprietary PEG technology.

Inhale disclosed a collaborative  agreement between  Pharmacia  Corporation
("Pharmacia")  and  Inhale's  subsidiary,  Shearwater  Corporation,  to  provide
proprietary  PEGylation technology for Pharmacia's  investigational new therapy,
called CDP870.  CDP870 has completed Phase II clinical testing for the treatment
of rheumatoid arthritis.

Inhale also  announced an agreement with Eyetech  Pharmaceuticals,  Inc., a
privately  held  biopharmaceutical  company based in New York City  ("Eyetech").
Eyetech is currently conducting a Phase II/III pivotal clinical trial of EYE001,
a PEGylated aptamer, for the treatment of age-related macular degeneration.

These two products  utilize Enzon's PEG technology and Enzon will receive a
royalty or a share of profits on final product sales of any such products.

In  January  2002,  Enzon and Inhale  announced  the  formation  of a broad
strategic  alliance,  under which Enzon granted  Inhale the  exclusive  right to
grant  sub-licenses  for Enzon's PEG technology to third parties.  Enzon retains
the right to use all of its PEG  technology  for its own product  portfolio,  as
well as for those  products it develops in  co-commercialization  collaborations
with  third  parties.  It is the  intent  of the  parties  that  Inhale  will be
responsible  for marketing  PEG services and Enzon and Inhale PEG  technology to
third parties.

Except for the historical information herein, the matters discussed in this
8-K include  forward-looking  statements  that may involve a number of risks and
uncertainties.  Actual  results  may vary  significantly  based upon a number of
factors,  which are described in the Company's  Form 10-K,  Form 10-Q's and Form
8-K's on file with the SEC, including without limitation, risks in obtaining and
maintaining regulatory approval for indications and expanded indications, market
acceptance of and continuing demand for the Company's products and the impact of
competitive products and pricing.

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: February 26, 2002

ENZON, INC.
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(Registrant)

By: /s/ KENNETH J. ZUERBLIS   
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Kenneth J. Zuerblis
Vice President, Finance, Chief Financial
Officer and Corporate Secretary