Sonus, Guerbet deal

Guerbet elected not to exercise its option for a European license to EchoGen, SNUS's fluorocarbon-based ultrasound contrast agent. SNUS CFO Gregory Sessler said the companies couldn't come to terms on a final agreement, and that Guerbet missed clinical milestones. "There was a goal for them to get into European trials," he said.

Guerbet paid $4.7 million to acquire the option in October 1994, including a $1.1 million option fee and a $3.6 million equity investment. Guerbet owns 549,000 shares, or 6 percent, of SNUS. Sessler said the shares are locked up until October 1997. ...