BOTHELL, Wash., Oct. 22, 2007 (PRIME NEWSWIRE) -- Sonus Pharmaceuticals, Inc. (Nasdaq:SNUS) today announced that it has engaged Ferghana Partners Inc. ("Ferghana") as its advisor to assist the Company in identifying, evaluating and pursuing alternative strategies to maximize shareholder value. Ferghana is an international provider of independent financial advisory services to firms in the biotechnology, pharmaceuticals, diagnostics and specialty chemicals industries.
"We have chosen Ferghana for this assignment due to their in-depth knowledge of the life sciences market," said Michael A. Martino, President & CEO of Sonus Pharmaceuticals. "Through their global presence in the biotech and pharmaceutical industries, Ferghana has gained a strong working knowledge of companies and assets, especially in the North America, Europe and Australasia markets, which might match up well strategically with our company and its skill sets. We do not expect to be making any further comments on our process until a conclusion regarding the feasibility of specific strategic alternatives is determined."
About Sonus Pharmaceuticals
Headquartered near Seattle, Washington, Sonus Pharmaceuticals, Inc. is focused on the development of cancer drugs that are designed to provide better efficacy, safety and tolerability, and are more convenient to use. Sonus moved its second oncology product candidate, TOCOSOL(r) Camptothecin, into a Phase 1 clinical trial in September 2006. For additional information on Sonus, including past news releases, please visit www.sonuspharma.com.
About Ferghana Partners Group
Ferghana (offices in New York, Boston, San Diego, Australia and London) provides advice on corporate partnering/development and ownership/business portfolio topics, such as mergers, acquisitions, joint ventures and divestitures to its clients, as well as creating and executing financial transactions. Its life science clients comprise established specialty chemical, pharmaceutical and diagnostics companies as well as emergent medtech, pharmaceutical and biotechnology companies with a therapeutic or diagnostic focus.
Sonus Pharmaceuticals Safe Harbor
Certain statements made in this press release are forward-looking. No assurance can be given that any transaction will be pursued or, if a transaction is pursued that it will be consummated. As discussed in Sonus Pharmaceuticals' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for 2006 and subsequent Quarterly Reports on Form 10-Q, actual results could differ materially from those projected in the forward-looking statements as a result of the following factors, among others: the Company's products will require continued pre-clinical evaluation and clinical testing and approval by regulatory authorities; such activities are lengthy and expensive and may never be successful; risks that the Phase 1 clinical trial for TOCOSOL(r) Camptothecin will not be successful; risks that the Company may not be successful in obtaining funding from third parties or completing a financing necessary to support the costs and expenses of other clinical studies as well as research and development activities; and risks that the Company may not identify or be able to pursue or consummate a strategic transaction. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof.