Sonus and Daiichi end licensing deal

Ultrasound contrast firm Sonus Pharmaceuticals of Bothell, WA, is looking for a new marketing partner in Asia after its licensing deal with Daiichi Pharmaceutical of Japan collapsed. Daiichi and Sonus signed an agreement in 1994, which gave Daiichi rights to Sonus' EchoGen agent in Japan and nine Pacific Rim countries. Daiichi had paid Sonus $12.8 million in option, licensing, and milestone fees as of September 1998.

Daiichi completed phase 1 clinical trials for EchoGen in December 1997 but failed to begin phase 2 studies after that, according to Sonus. Sonus is in the process of looking for a new Asian marketing partner, for both EchoGen and SonoGen (QW7437), the company's next ultrasound contrast agent.