Sonus Drops Plans to Buy French Drug Company

Sonus Pharmaceuticals said it has backed out of a proposal to buy Synt:em SA, a French drug discovery and development company. The all-stock deal was valued at as much as $30 million when it was originally announced in November. Sonus said that with its own Tocosol Paclitaxel cancer treatment moving ahead in late-stage clinical trials, the time was right to expand its product pipeline through the purchase of the Nimes, France-based drug developer.

Puget Sound Business Journal (http://www.bizjournals.com/seattle/stories/2005/03/14/daily11.html)