Aquavan Technology Company

Aquavan Technology was a clinical-stage biotechnology company focused on the development of novel sedative and anesthetic agents. The company's primary asset was Aquavan (fospropofol disodium), a water-soluble prodrug of the widely used anesthetic propofol. This technology was designed to provide a more controlled sedation profile while avoiding the complications associated with the lipid-based formulations of traditional propofol. In 2005, Aquavan Technology was acquired by MGI Pharma in a deal valued at approximately $168 million. Following the acquisition, the lead product was further developed and eventually received FDA approval in 2008 under the brand name Lusedra.