FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  H.I.G. ONCOGENEX, INC.
 2. Date of Event Requiring Statement (Month/Day/Year)
08/21/2008		 3. Issuer Name and Ticker or Trading Symbol
ONCOGENEX PHARMACEUTICALS, INC. [OGXI]
(Last)
(First)
(Middle)
C/O 1001 BRICKELL BAY DRIVE, 27TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

MIAMI, FL 33131		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 733,912 (1)
D (2)
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
H.I.G. ONCOGENEX, INC.
C/O 1001 BRICKELL BAY DRIVE
27TH FLOOR
MIAMI, FL 33131		     X    
H.I.G. KEY CORP
C/O 1001 BRICKELL BAY DRIVE
27TH FLOOR
MIAMI, FL 33131		     X    
H.I.G. HORIZON CORP
C/O 1001 BRICKELL BAY DRIVE
27TH FLOOR
MIAMI, FL 33131		     X    
MNAYMNEH SAMI
C/O 1001 BRICKELL BAY DRIVE
27TH FLOOR
MIAMI, FL 33131		     X    
TAMER ANTHONY
C/O 1001 BRICKELL BAY DRIVE
27TH FLOOR
MIAMI, FL 33131		     X    

Signatures

/s/ Richard Siegel, Authorized Signatory for H.I.G. Oncogenex, Inc. 08/29/2008
**Signature of Reporting Person Date
/s/ Richard Siegel, Authorized Signatory for H.I.G. Key Corp. 08/29/2008
**Signature of Reporting Person Date
/s/ Richard Siegel, Authorized Signatory for H.I.G. Horizon Corporation 08/29/2008
**Signature of Reporting Person Date
/s/ Sami W. Mnaymneh 08/29/2008
**Signature of Reporting Person Date
/s/ Anthony Tamer 08/29/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These securities include 209,688 shares that remain in escrow pending the achievement of certain milestones, as set forth in the Arrangement Agreement dated May 27, 2008 between Sonus Pharmaceuticals, Inc. and OncoGenex Technologies Inc., which is included as Exhibit 2.1 to the Issuer's Current Report on Form 8-K (File No. 0-21243) filed with the Securities and Exchange Commission on May 30, 2008, and incorporated herein by reference. If such milestones are not satisfied prior to August 21, 2014, all shares remaining in escrow will be cancelled.
(2) These shares are owned directly by H.I.G. Horizon Corporation, which is a wholly-owned subsidiary of H.I.G. Key Corporation which is a wholly-owned subsidiary of H.I.G. Oncogenex, Inc. Sami W. Mnaymneh and Anthony Tamer are the shareholders of HIG-GP II, Inc., the general partner and managing member, respectively, of the two entities which are indirectly the majority shareholders of H.I.G. Oncogenex, Inc. H.I.G. Key Corporation and H.I.G. Oncogenex, Inc. and Messrs. Mnaymneh and Tamer may be deemed to be indirect beneficial owners of the reported securities, but disclaim beneficial ownership in the securities, except to the extent of its or his pecuniary interest in the shares.
 
Remarks:
Exhibit List - Exhibit 99 - Joint Filer Information

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