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

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

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

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): December 29, 2008</B>

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<P align="center" style="font-size: 24pt"><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: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-33043</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>86-0974730</B></TD>
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<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: 1px solid #000000"><B>18116 232<sup>nd</sup> NE<BR>Woodinville, WA<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>98077</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;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 align="left" style="font-size: 10pt">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 align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</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">&#111;</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 align="left" style="font-size: 10pt"><B>Item&nbsp;1.01&nbsp;&nbsp; Entry into a Material Definitive Agreement</B>


<P align="left" style="font-size: 10pt; text-indent: 4%">Effective December&nbsp;29, 2008, ImaRx Therapeutics, Inc. (the &#147;Company&#148;) and Koronis Pharmaceuticals, Inc. (the
&#147;Koronis&#148;) entered into a Sublease Agreement for approximately 3,335 square feet of office and laboratory space (the
&#147;Leased Facilities&#148;) located in Redmond, Washington. The Leased Facilities will serve as the Company&#146;s principal
executive offices and laboratories.


<P align="left" style="font-size: 10pt; text-indent: 3%">The term of the Sublease Agreement will begin upon January&nbsp;1, 2009 and will expire on October&nbsp;31, 2009.


<P align="left" style="font-size: 10pt; text-indent: 3%">The base rental rate under the Lease Agreement is $3,125.00 per month. In addition to the monthly rent, the
Company is obligated under the Sublease Agreement to pay fifty percent (50%) of additional charges attributable to the
Leased Facilities incurred by Koronis under its lease agreement with the master landlord. Upon an event of default,
the Sublease Agreement provides that Koronis may terminate the lease and require the Company to pay the entire amount
of rent that would have been payable during the remainder of the lease term.


<P align="left" style="font-size: 10pt; text-indent: 4%">The Lease Agreement also contains other customary default provisions, representations, warranties, and covenants.


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">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.

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    <TD nowrap align="left">Date:&nbsp;&nbsp;January 2, 2009</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3"><B>IMARX THERAPEUTICS, INC.</B></TD>
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&nbsp;</DIV></TD>
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    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ <FONT style="font-variant: SMALL-CAPS">Kevin Ontiveros</font></TD>
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&nbsp;</DIV></TD>
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&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kevin Ontiveros,</TD>
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&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President, Legal Affairs,</TD>
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&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">General Counsel and Secretary</TD>
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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): December 29, 2008
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 232
nd
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 1.01   Entry into a Material Definitive Agreement
Effective December 29, 2008, ImaRx Therapeutics, Inc. (the "Company") and Koronis Pharmaceuticals, Inc. (the
"Koronis") entered into a Sublease Agreement for approximately 3,335 square feet of office and laboratory space (the
"Leased Facilities") located in Redmond, Washington. The Leased Facilities will serve as the Company's principal
executive offices and laboratories.
The term of the Sublease Agreement will begin upon January 1, 2009 and will expire on October 31, 2009.
The base rental rate under the Lease Agreement is $3,125.00 per month. In addition to the monthly rent, the
Company is obligated under the Sublease Agreement to pay fifty percent (50%) of additional charges attributable to the
Leased Facilities incurred by Koronis under its lease agreement with the master landlord. Upon an event of default,
the Sublease Agreement provides that Koronis may terminate the lease and require the Company to pay the entire amount
of rent that would have been payable during the remainder of the lease term.
The Lease Agreement also contains other customary default provisions, representations, warranties, and covenants.
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 2, 2009
IMARX THERAPEUTICS, INC.
By:
/s/
Kevin Ontiveros
Kevin Ontiveros,
Vice President, Legal Affairs,
General Counsel and Secretary