Sonus expands relationship with Abbott
Ultrasound contrast developer Sonus Pharmaceuticals of Bothell,WA, has extended its relationship with Abbott Laboratories toinclude the clinical development and marketing of Sonus' EchoGenagent in the U.S.Last week's deal builds on a relationship between
Ultrasound contrast developer Sonus Pharmaceuticals of Bothell,WA, has extended its relationship with Abbott Laboratories toinclude the clinical development and marketing of Sonus' EchoGenagent in the U.S.
Last week's deal builds on a relationship between Sonus and Abbottthat began in 1993 for manufacturing of EchoGen. Under the newagreement, Abbott will pay Sonus $31 million in up-front, clinicalsupport, and milestone payments in return for U.S. marketing rights.In addition, Abbott paid $4 million for warrants to acquire 500,000shares of Sonus stock, equal to about 6% of shares outstanding.Sonus will receive 47% of net EchoGen revenues in the U.S. andthe company retains some co-promotion rights to EchoGen in theU.S.
EchoGen has completed phase III radiology and cardiology trialsin the U.S. and Sonus expects to file a new drug application forthe agent this year, followed by a filing with the European MedicinesEvaluation Agency. French contrast firm Guerbet has rights toEchoGen in Europe, while Daiichi Pharmaceutical retains marketingrights for the product in the Pacific Rim.
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