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Enzon Pharmaceuticals has hired a financial adviser to help it consider selling all or part of the company. The move comes after investor Carl Icahn, who owns just over 13% of the firm, indicated in a late-November regulatory filing that he wishes to discuss the company’s direction with its management. Enzon sold its specialty drug business in 2010 and has since focused on using its PEGylation linker technology and mRNA-targeting agents to develop cancer therapeutics. Last week, however, it suspended clinical development of its androgen receptor program.
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