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Biotech / Medical : Vion (formerly Oncorx) interesting play on Gene Therapy
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To: Jim Oravetz who wrote (225)2/21/2001 10:17:30 PM
From: Jim Oravetz   of 370
 
Commenting on the company's 2000 results, Alan Kessman, president and chief executive officer of Vion, stated, "The year 2000 was one in which we significantly advanced our business agenda on all fronts. During the year, we advanced our preclinical and clinical development activities related to all three of our technologies. Specifically, we made progress in our Phase I studies of both TAPET(R) and Triapine(R) and completed all preclinical and toxicology work on our Sulfonyl Hydrazine Prodrugs. From a corporate standpoint, we greatly simplified the company's capital structure and strengthened the balance sheet through a series of warrant exercises and other stock transactions, resulting in net proceeds to the company of approximately $26.2 million."

Mr. Kessman concluded, "With several notable milestones reached, we begin the year 2001 as a much
stronger company, with a stable of three product technologies, all in some stage of clinical development,
important collaborations with which to expand our knowledge base and cash resources of approximately
$24.4 million, which based on our current initiatives will fund the company's development efforts through the
first quarter of 2002."
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