Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN ) today announced the U.S. Food and Drug Administration (FDA) accepted the Company’s Investigational New Drug (IND) application for the use of its Survivin antagonist. The Company will open a Phase I study evaluating safety of the Survivin antagonist during the first quarter of 2009.

 “We are excited to advance our second LNA compound, which targets Survivin, into the clinic,” said Jeffrey H. Buchalter, Chairman and Chief Executive Officer of Enzon. “This is a well established and important oncology target.”

Survivin is a key protein that controls cancer growth by playing a significant role in cell division, as well as, inhibiting programming that controls cell death. The Survivin antagonist has been developed, using the Locked Nucleic Acid technology platform, to inhibit Survivin. In preclinical animal studies, this compound inhibits Survivin expression, tumor growth and potentiates the antitumor activity of taxol, an approved cancer therapeutic. Enzon first presented its Survivin RNA antagonist last year at the 4th Annual Meeting of Oligonucleotide Therapeutics Society (OTS). The initial preclinical data are further described by Enzon’s partner, Santaris Pharma, in an article in Molecular Cancer Therapeutics (2008): “SPC3042: a pro-apoptotic survivin inhibitor”.

About Enzon :

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®, DepoCyt®, Abelcet® and Adagen®. 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 and this press release can be found on the Company’s web site at www.enzon.com.

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