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Sunesis Pharmaceuticals Focuses Resources on Development of Voreloxin (Formerly SNS-595)
Date:6/3/2008

ities to monetize the company's extensive fragment- based drug discovery capabilities, its preclinical programs and/or its intellectual property portfolio through a potential spin out or strategic alliance.

Sunesis will continue to benefit from any down-stream milestones or royalties based on future progress made in compounds emerging from its existing drug discovery collaborations with Biogen Idec Inc., Johnson & Johnson Pharmaceutical Research and Development LLC, Merck & Co., Inc. and SARcode Corporation. Sunesis anticipates that one or more of these compounds may advance to clinical trials within the next twelve months.

With this restructuring, Sunesis is reducing its workforce by approximately 60 employees. In addition, executive team members Daniel C. Adelman, M.D., Senior Vice President, Development and Chief Medical Officer, William L. Schary, Ph.D., Vice President, Regulatory Affairs and Quality Assurance, Robert S. McDowell, Ph.D., Vice President, Research and Jennifer A. Troia, SPHR, Vice President, Human Resources and Corporate Operations, will be leaving the company. Employees affected by the restructuring will be eligible for a severance package that includes severance pay, continuation of benefits and professional outplacement services. A one-time charge of approximately $10.7 million is expected to be incurred in the second quarter of 2008. Approximately $8.0 million of this charge is related to the closing of the company's research facility. Approximately $2.5 million of the restructuring charge represents cash payments over the next twelve months for severance and other personnel related expenses.

"The decision to undertake this workforce reduction is a difficult one. I deeply appreciate all of the past contributions made on behalf of Sunesis by the talented and committed employees affected by this realignment. I am confident that the ongoing team will build upon their legacy as we aggressively advance voreloxin through late-st
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SOURCE Sunesis Pharmaceuticals, Inc.
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Related medicine technology :

1. Sunesis Pharmaceuticals Presents Updated Clinical Data From Ongoing Phase 2 Trial of Voreloxin (Formerly SNS-595) in Ovarian Cancer Patients at the 44th ASCO Annual Meeting
2. Sunesis Pharmaceuticals to Present Interim Clinical Data From Voreloxin (Formerly SNS-595) Ovarian Cancer Trial at 44th ASCO Annual Meeting and Acute Myeloid Leukemia Trials at 13th EHA Congress
3. Sunesis Pharmaceuticals Initiates Phase 2 Clinical Trial of Voreloxin (SNS-595) in Acute Myeloid Leukemia
4. Sunesis Pharmaceuticals Reports Data from Nonclinical Studies of SNS-032 at the Annual Meeting of the American Association for Cancer Research
5. Sunesis Pharmaceuticals to Present Non-Clinical Data at the Annual Meeting of the American Association for Cancer Research
6. Sunesis Pharmaceuticals Reports Positive Interim Data for SNS-595 Single-Agent Activity in Platinum-Resistant Ovarian Cancer
7. Sunesis Pharmaceuticals to Present Data on Two Product Candidates at the 49th Annual Meeting of the American Society of Hematology
8. Sunesis Pharmaceuticals Reports Preliminary SNS-595 Activity in Ovarian Cancer Clinical Trial at AACR-NCI-EORTC International Conference
9. Sunesis Pharmaceuticals Commences Clinical Trials of SNS-595 and SNS-314
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