Enzon Pharmaceuticals (Piscataway, New Jersey) (ENZN) Awarded $1.2 Million in Grants under QTDP Program
11/3/2010 10:40:00 AM
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Enzon Pharmaceuticals, Inc. (NASDAQ: ENZN) today announced that it has been awarded $1.2 million in funding under the IRS Qualifying Therapeutic Discovery Project (QTDP) program, which was created by Congress as part of the Patient Protection and Affordable Care Act of 2010. Proceeds of the grant will be used to advance the development of five product candidates: PEG-SN38, mRNA antagonist for HIF-1 alpha, Survivin, Androgen Receptor (AR) and HER3. The QTDP grant program provides support for innovative projects that are determined by the U.S. Department of Health and Human Services to have reasonable potential to result in a new therapy, reduce health care costs, or represent a significant advance in finding a cure for cancer.