:
<?php
$testString = "<!-- %{data=
THIS GETS
MATCHED AND
RETURNED
}% -->";
$knownString = "data";
preg_match( "@<!-- %\\{" . $knownString . "\\s*=\\s*([^\\}]+)\\}% -->@", $testString, $match );
var_dump( $match );
?>
:
array(2) {
[0]=>
string(54) ""
[1]=>
string(34) "THIS GETS
MATCHED AND
RETURNED
"
}