Sonus Obtains License From Bayer to Develop Cancer Drugs

8/7/08Follow @xconomy

Sonus Pharmaceuticals said today it has agreed to pay $450,000 upfront, plus future milestones and royalty payments, to obtain an exclusive license from Bayer to develop a family of drugs currently in animal testing. The compounds, caspase activators, are small molecules that can trigger cell suicide in cancer cells. Bothell, WA-based Sonus (NASDAQ: SNUS) has agreed to merge with Vancouver, BC-based OncoGenex Technologies, and the deal is expected to close in the third quarter.

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