BRIDGEWATER, N.J.--(BUSINESS WIRE)--Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) today announced the initiation of Phase I clinical studies, in collaboration with the National Cancer Institute (NCI), for two of the Company’s novel oncology product candidates, EZN-2968 and EZN-2208 (PEG-SN38). Both EZN-2968 and EZN-2208 have been shown to down-modulate HIF-1a, a subunit of HIF-1. HIF-1 is frequently overexpressed in cancer cells, where it is involved in the upregulation of gene products essential for tumor invasion, migration, angiogenesis and production of vascular endothelial growth factor (VEGF). The studies are being sponsored by the NCI under Clinical Trials Agreements with Enzon.