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12:00 AM
Nov 15, 2004
 |  BioCentury  |  Strategy

Sonus reaches an event horizon

Sonus Pharmaceuticals Inc.'s proposed acquisition of Synt:em S.A. is one of a succession of near-term events necessary for SNUS to escape the one-product-company trap. In addition to the acquisition, in the next six months SNUS expects an agree-ment with FDA on a Phase III trial protocol for its lead product, Tocosol paclitaxel, along with a partnership for the compound. In addition, SNUS believes the Synt:em deal ultimately will allow it to raise capital on more favorable terms.

According to President and CEO Michael Martino, when SNUS morphed from an imaging company into a drug delivery company at the end of 2000, it had two goals - to develop Tocosol paclitaxel and to diversify the pipeline.

The deal for Synt:em, for a modest $10 million in stock up front, is key to building the pipeline, Martino said. Synt:em adds three preclinical compounds for pain, and a series of research stage compounds for cancer that Martino believes are compatible with SNUS's Tocosol platform, which uses vitamin E to mix lipophilic drugs with water in an emulsion formulation for intravenous delivery.

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