SOURCE: Vion Pharmaceuticals, Inc.
Vion Pharmaceuticals And San Mar Laboratories
Sign License Agreement For Commercialization Of
Melanin
NEW HAVEN, Conn., and ELMSFORD, N.Y., Feb. 9 /PRNewswire/ -- Vion
Pharmaceuticals, Inc. (Nasdaq: VION - news) announced an exclusive worldwide
licensing agreement with San Mar Laboratories, a leading manufacturer of private
label cosmetics and pharmaceuticals, for the manufacture and marketing of its
Melasyn(R) technology. Melasyn is a readily soluble form of melanin making it a
novel and useful ingredient for formulation of skin care products and
cosmeceuticals.
Under the terms of the agreement, Vion will grant an exclusive worldwide license to
San Mar for the manufacture and sales of products containing Melasyn. Vion will
receive a royalty on products sold by San Mar with guaranteed annual royalties over
an initial three year period. Products containing Melasyn are currently in
development and may be available for sale this year.
''The Melasyn technology is an outgrowth of our cancer research collaborations
with Yale University, the same group that discovered our TAPET technology
platform,'' said John Spears, President and CEO of Vion. ''We are very pleased
about this license agreement which allows for the broad based commercialization of
Melasyn. The near term revenue generating potential of this relationship is very
important to Vion to help fund our important cancer research.''
Melasyn is one of several technologies originally discovered at Yale University
School of Medicine that is licensed exclusively to Vion for research and commercial
development. Potential products using Melasyn include self tanning products,
sunscreens, makeup base, haircoloring and over the counter skin treatments such as
ointments, cremes and lotions. According to a 1996 industry survey, total wholesale
dollars in the U.S. for sunscreens, self tanning products, makeup bases and hair
coloring products reached over 2 billion dollars. The survey conducted by the Kline
& Company, Inc., reported $330 million for sunscreens, $60 million for self tanning
products and $850 million each for makeup base and hair coloring products.
''We are very excited about the Melasyn technology, since the cosmetics industry
continually looks for unique new product opportunities,'' said Frank Penna,
executive vice president, San Mar Laboratories. ''The potential applications for this
are quite varied, from cosmetics to sunscreens. We intend to aggressively pursue all
avenues for commercial development.''
San-Mar Laboratories, is a leading private label manufacturer, established in 1975 to
service the cosmetic, toiletries and OTC drug industries. With a commitment to
research and development, San-Mar has evolved as the premier R&D private label
manufacturer in the industry whose customers include a variety of Fortune 500
companies as well as niche market clientele.
Vion Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to
discovering, developing and commercializing novel products and technologies for
the treatment of cancer and viral diseases. The Company has focused its research
efforts in five principal areas: hypoxic cancer cell therapeutics, TAPET (Tumor
Amplified Protein Expression Therapy) cancer therapy, alkylating agent prodrugs,
ribonucleotide reductase inhibitors and nucleoside analogs. Vion's most advanced
anticancer agent Promycin(R)(porfiromycin), is currently in phase III clinical trials.
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 Vion Pharmaceuticals 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 the Vion Pharmaceuticals Registration Statement filed on Form S-3 (file
no. 333-37941)
SOURCE: Vion Pharmaceuticals, Inc. |
