Enzon Pharma and Santaris Pharma entered into a collaboration to co-develop and commercialize a series of RNA antagonists based on Santaris’ locked nucleic acid (LNA) technology and utilizing Enzon’s oncology drug development expertise.

Under the terms of the agreement, Enzon is licensing two of Santaris’ preclinical development compounds, the HIF-1 alpha antagonist (SPC2968) and the Survivin antagonist (SPC3042), and six additional RNA antagonist candidates, all to be directed against novel oncology drug targets selected by Enzon. In addition, Enzon will have the opportunity to explore the potential for added benefit with its next-generation PEGylation Customized Linker Technology™.

Enzon will make an initial upfront payment of $8 million to Santaris, followed by an additional $3 million upon the successful identification of certain LNA targets and additional payments on the achievement of pre-specified discovery, development, and regulatory milestones, representing a potential aggregate of more than $200 million. Enzon will pay royalties to Santaris on net sales of RNA antagonist products resulting from the collaboration in non-European territories.

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