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Sunesis Pharmaceuticals Appoints Lesley A. Stolz, Ph.D., Vice President, Corporate and Business Development

12/03/07

SOUTH SAN FRANCISCO, Calif., Dec 03, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapeutics, today announced the appointment of Lesley A. Stolz, Ph.D., to the position of Vice President, Corporate and Business Development. Dr. Stolz will be responsible for overseeing the company's partnering and collaboration activities, reporting directly to Eric Bjerkholt, Senior Vice President, Corporate Development and Finance.

"We are pleased to welcome Lesley to the Sunesis team. Her proven track record and diverse experience in managing all aspects of partnering, in-licensing, intellectual property transfers and M&A activities will provide valuable insights to all of our strategic business development initiatives," said Daniel Swisher, Chief Executive Officer and President of Sunesis.

Dr. Stolz joins Sunesis with more than a decade of biotechnology industry experience. Most recently, she served as Senior Director, Business Development for Aerovance, Inc. where she led efforts to partner the company's Phase 2 asset for uncontrolled asthma. Dr. Stolz was Senior Director, Business Development for GPC Biotech AG of Germany from 2002 to 2006 where she co-led the acquisition of Axxima Pharmaceuticals. While there, she was also responsible for the discovery, evaluation and execution of GPC Biotech's in-licensing activities and helped to set business development and merger and acquisition strategies. From 2001 to 2002, Dr. Stolz served as Director, Business Development for Cell Genesys, Inc. with responsibility for identifying and negotiating partnerships for the company's cancer therapy research and development programs. Dr. Stolz received her Ph.D. and M.S. degrees from the University of Rochester and a B.S. from the University of Virginia. She conducted postdoctoral research at Harvard Medical School's Department of Biochemistry and Molecular Pharmacology.

Option Award Disclosure

The Compensation Committee of the company's Board of Directors approved an employment commencement inducement grant to Dr. Stolz of a non-qualified stock option to purchase 60,000 shares of Sunesis common stock, effective November 30, 2007. Pursuant to Nasdaq Marketplace Rule 4350 (i)(1)(A)(iv), this option award was granted without shareholder approval under Sunesis' 2006 Employment Commencement Incentive Plan. Nasdaq rules require public announcement of option grants made under this type of plan. The options were granted at an exercise price equal to the fair market value of the company's common stock at the close of the trading day on the grant date. The options have a ten-year term, and, subject to the terms and conditions of the company's 2006 Employment Commencement Incentive Plan, vest over four years as follows: 25 percent of the shares will vest on the one year anniversary of the grant date, and the remaining 75 percent will vest in 36 equal monthly increments during each of the second, third and fourth years thereafter.

About Sunesis Pharmaceuticals

Sunesis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapeutics for oncology and other serious diseases. Sunesis has built a broad product candidate portfolio through internal discovery and in-licensing of novel cancer therapeutics. Sunesis is advancing its product candidates through in-house research and development efforts and strategic collaborations with leading pharmaceutical and biopharmaceutical companies. For additional information on Sunesis Pharmaceuticals, please visit http://www.sunesis.com.

SOURCE Sunesis Pharmaceuticals, Inc.

http://www.sunesis.com

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