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Sunesis Pharmaceuticals Sets Price for Initial Public Offering

South San Francisco, CA, September 27, 2005 – Sunesis Pharmaceuticals, Inc. today announced the initial public offering of 6,000,000 shares of its common stock at a price of $7.00 per share. Shares of Sunesis' common stock will be traded on the Nasdaq National Market under the trading symbol "SNSS". Sunesis has granted the underwriters a 30-day over-allotment option to purchase an additional 900,000 shares. Lehman Brothers Inc. and SG Cowen & Co., LLC acted as joint book-running managers for this offering, and Needham & Company, Inc. served as co-manager.

Copies of the final prospectus relating to the offering may be obtained by contacting either Lehman Brothers Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717 or by fax at (631) 254-7268 or email request to or or from SG Cowen & Co., LLC Prospectus Department, 1221 Avenue of the Americas, 6th Floor, New York, NY 10020.

A registration relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement.

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.

Eric Bjerkholt, CFO
Sunesis Pharmaceuticals, Inc.,

Karen L. Bergman or
Michelle Corral
BCC Partners
650-575-1509 or 415-794-8662