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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): January 8, 2009</B>



<P style="font-size: 24pt" align="center"><B>IMARX THERAPEUTICS,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>001-33043</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>86-0974730</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>18116 232nd
NE<BR>
Woodinville, WA<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>98077</B></TD>
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 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(520) 770-1259</B>
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  <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>



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<P style="display: none; font-size: 10pt" align="center">1
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<P style="font-size: 10pt" align="left"><B>&nbsp;</B>

<P style="font-size: 10pt" align="left"><B>Item&nbsp;1.02&nbsp;&nbsp;
Termination of a Material Definitive Agreement</B>

<P style="font-size: 10pt; text-indent: 3%" align="left">Effective
January&nbsp;8, 2009, ImaRx Therapeutics, Inc. (the &#8220;Company&#8221;) and
Cambric Partners, an Arizona general partnership, herein after referred to as
(&#8220;Cambric&#8221;) entered into a Lease Surrender and Termination
Agreement (the &#8220;Termination Agreement&#8221;) pursuant to which the
Company and Cambric agreed to terminate that certain Lease dated
December&nbsp;10, 2007, as amended on January&nbsp;25, 2008 (the
&#8220;Lease&#8221;), for the Premises located at 1730 E. River Road, Suite
200, Tucson, Arizona (the &#8220;Premises&#8221;).

<P style="font-size: 10pt; text-indent: 3%" align="left">As consideration of
Cambric&#8217;s acceptance of the early termination of the Lease, the Company
has agreed to pay a termination fee of $75,000.00 no later than January&nbsp;9,
2009, to forfeit the security deposit in the amount of $19,433.47 and to
surrender the Lease and the Premises. The Termination Agreement is effective as
of December&nbsp;31, 2008 and contains other customary release provisions,
representations, warranties, and covenants.

<P style="font-size: 10pt" align="left"><B>Item&nbsp;9.01&nbsp;&nbsp; Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt" align="left"><U>(d)&nbsp;Exhibits</U>.
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<DIV
style="margin-left: 0px; text-indent: 0px"><B>Exhibit&nbsp;No.</B>&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left"><B>Description</B></TD>
 </TR>
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<DIV style="margin-left: 0px; text-indent: 0px">10.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;Lease Surrender and Termination
Agreement, dated as of January 8, 2009, by and among Cambric Partners, an
Arizona general partnership and ImaRx Therapeutics, Inc. a Delaware
corporation.</TD>
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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 3%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized. &nbsp;

<P style="font-size: 10pt" align="left">Date:&nbsp;&nbsp;January&nbsp;13, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 45%"
align="left"><B>IMARX THERAPEUTICS, INC.</B>

<P style="font-size: 10pt; margin-left: 45%" align="left">By: <U>/s/ <FONT
style="font-variant: small-caps">Kevin
Ontiveros&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><BR>Kevin Ontiveros,
<BR>
Corporate Secretary

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): January 8, 2009
IMARX THERAPEUTICS,
INC.
(Exact name of registrant as
specified in its charter)
Delaware
001-33043
86-0974730
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
18116 232nd
NE
Woodinville, WA
98077
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(520) 770-1259
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02  
Termination of a Material Definitive Agreement
Effective
January 8, 2009, ImaRx Therapeutics, Inc. (the "Company") and
Cambric Partners, an Arizona general partnership, herein after referred to as
("Cambric") entered into a Lease Surrender and Termination
Agreement (the "Termination Agreement") pursuant to which the
Company and Cambric agreed to terminate that certain Lease dated
December 10, 2007, as amended on January 25, 2008 (the
"Lease"), for the Premises located at 1730 E. River Road, Suite
200, Tucson, Arizona (the "Premises").
As consideration of
Cambric's acceptance of the early termination of the Lease, the Company
has agreed to pay a termination fee of $75,000.00 no later than January 9,
2009, to forfeit the security deposit in the amount of $19,433.47 and to
surrender the Lease and the Premises. The Termination Agreement is effective as
of December 31, 2008 and contains other customary release provisions,
representations, warranties, and covenants.
Item 9.01   Financial
Statements and Exhibits.
(d) Exhibits
.
Exhibit No.
Description
10.1
Lease Surrender and Termination
Agreement, dated as of January 8, 2009, by and among Cambric Partners, an
Arizona general partnership and ImaRx Therapeutics, Inc. a Delaware
corporation.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Date:  January 13, 2009
IMARX THERAPEUTICS, INC.
By:
/s/
Kevin
Ontiveros
Kevin Ontiveros,
Corporate Secretary