Vion Pharmaceuticals Files Shelf Registration Statement

Apr 03, 2001, 01:00 ET from Vion Pharmaceuticals, Inc.

    NEW HAVEN, Conn., April 3 /PRNewswire/ --
 Vion Pharmaceuticals, Inc. (Nasdaq:   VION) today announced that it has filed a
 shelf registration statement with the Securities and Exchange Commission,
 which will permit the Company, from time to time, to offer and sell up to five
 million shares of common stock.
     "While the Company has no current arrangements to sell the shares, this
 filing provides Vion with greater flexibility to plan for and engage in
 various financing transactions in the future.  Given current market
 conditions, we believe that having a shelf registration on file allows us to
 evaluate multiple financing opportunities and to proceed as expeditiously as
 possible once we make financing decisions," said Alan Kessman, president and
 chief executive officer of Vion.
     A registration statement relating to these securities has been filed with
 the Securities and Exchange Commission but has not yet become effective.
 These securities may not be sold nor may offers to buy be accepted prior to
 the time that the registration statement becomes effective.  This news release
 does not constitute an offer to sell or the solicitation of an offer to buy,
 nor shall there be any sale of the securities in any state in which such
 offer, solicitation or sale would be unlawful prior to the registration or
 qualification of the securities under the securities laws of that state.
     Vion Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the
 research, development and commercialization of cancer treatment technologies.
 Vion's product portfolio consists of TAPET(R), a drug delivery platform, and
 cancer therapeutics (Triapine(R) and Sulfonyl Hydrazine Prodrugs).  TAPET uses
 genetically altered strains of Salmonella as a bacterial vector, or vehicle,
 for delivering cancer fighting drugs preferentially to solid tumors and is
 currently being evaluated for safety and colonization in several Phase I
 trials.  Triapine, which is designed to prevent the replication of tumor cells
 by blocking a critical step in the synthesis of DNA, is currently being
 evaluated for its safety in several Phase I clinical trials.  VNP40101M is a
 member of the Sulfonyl Hydrazine Prodrug class, compounds that are designed to
 be converted to unique potent, alkylating agents and is expected to begin
 Phase I trials for safety within the next two months.  For additional
 information on Vion and its research and product development programs, visit
 the company's Internet web site at http://www.vionpharm.com.
 
     Statements included in this press release, which are not historical in
 nature, are forward-looking statements made pursuant to the safe-harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements regarding the company's future business prospects,
 plans, objectives, expectations and intentions are subject to certain risks,
 uncertainties and other factors that could cause actual results to differ
 materially from those projected or suggested in the forward-looking
 statements, including, but not limited to those contained in Vion
 Pharmaceuticals' 1999 Annual Report filed on Form 10-KSB (file no. 0-25634)
 including the inability to raise additional capital, the possibility that any
 or all of the company's products or procedures are found to be ineffective or
 unsafe, the possibility that third parties hold proprietary rights that
 preclude the company from marketing its products, the possibility that third
 parties will market a product equivalent or superior to the company's product
 candidates and the possibility that preclinical results may not be indicative
 of results in human clinical trials and that results achieved in early
 clinical trials are not necessarily indicative of the results that will be
 achieved in subsequent or expanded clinical trials.
 
                      Company Contact:  Vion Pharmaceuticals, Inc.
                                        Alan Kessman, President and CEO
                                        203-498-4210 ph
     Financial Communications Contact:  Weber Shandwick Worldwide
                                        Sue L. Yeoh (investors)
                                        646-658-8375 ph
 
 

SOURCE Vion Pharmaceuticals, Inc.
    NEW HAVEN, Conn., April 3 /PRNewswire/ --
 Vion Pharmaceuticals, Inc. (Nasdaq:   VION) today announced that it has filed a
 shelf registration statement with the Securities and Exchange Commission,
 which will permit the Company, from time to time, to offer and sell up to five
 million shares of common stock.
     "While the Company has no current arrangements to sell the shares, this
 filing provides Vion with greater flexibility to plan for and engage in
 various financing transactions in the future.  Given current market
 conditions, we believe that having a shelf registration on file allows us to
 evaluate multiple financing opportunities and to proceed as expeditiously as
 possible once we make financing decisions," said Alan Kessman, president and
 chief executive officer of Vion.
     A registration statement relating to these securities has been filed with
 the Securities and Exchange Commission but has not yet become effective.
 These securities may not be sold nor may offers to buy be accepted prior to
 the time that the registration statement becomes effective.  This news release
 does not constitute an offer to sell or the solicitation of an offer to buy,
 nor shall there be any sale of the securities in any state in which such
 offer, solicitation or sale would be unlawful prior to the registration or
 qualification of the securities under the securities laws of that state.
     Vion Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the
 research, development and commercialization of cancer treatment technologies.
 Vion's product portfolio consists of TAPET(R), a drug delivery platform, and
 cancer therapeutics (Triapine(R) and Sulfonyl Hydrazine Prodrugs).  TAPET uses
 genetically altered strains of Salmonella as a bacterial vector, or vehicle,
 for delivering cancer fighting drugs preferentially to solid tumors and is
 currently being evaluated for safety and colonization in several Phase I
 trials.  Triapine, which is designed to prevent the replication of tumor cells
 by blocking a critical step in the synthesis of DNA, is currently being
 evaluated for its safety in several Phase I clinical trials.  VNP40101M is a
 member of the Sulfonyl Hydrazine Prodrug class, compounds that are designed to
 be converted to unique potent, alkylating agents and is expected to begin
 Phase I trials for safety within the next two months.  For additional
 information on Vion and its research and product development programs, visit
 the company's Internet web site at http://www.vionpharm.com.
 
     Statements included in this press release, which are not historical in
 nature, are forward-looking statements made pursuant to the safe-harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements regarding the company's future business prospects,
 plans, objectives, expectations and intentions are subject to certain risks,
 uncertainties and other factors that could cause actual results to differ
 materially from those projected or suggested in the forward-looking
 statements, including, but not limited to those contained in Vion
 Pharmaceuticals' 1999 Annual Report filed on Form 10-KSB (file no. 0-25634)
 including the inability to raise additional capital, the possibility that any
 or all of the company's products or procedures are found to be ineffective or
 unsafe, the possibility that third parties hold proprietary rights that
 preclude the company from marketing its products, the possibility that third
 parties will market a product equivalent or superior to the company's product
 candidates and the possibility that preclinical results may not be indicative
 of results in human clinical trials and that results achieved in early
 clinical trials are not necessarily indicative of the results that will be
 achieved in subsequent or expanded clinical trials.
 
                      Company Contact:  Vion Pharmaceuticals, Inc.
                                        Alan Kessman, President and CEO
                                        203-498-4210 ph
     Financial Communications Contact:  Weber Shandwick Worldwide
                                        Sue L. Yeoh (investors)
                                        646-658-8375 ph
 
 SOURCE  Vion Pharmaceuticals, Inc.