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Biotech / Medical : Vion (formerly Oncorx) interesting play on Gene Therapy -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (222)	1/27/2001 8:16:22 PM
From: Scott H. Davis	Read Replies (1) \| Respond to of 370

And another option is if the science is solid, has significant market value, if they have advanced to PIII, they may be a much candidate for companies like MLNM what are looking to move beyond being an enabling technology company to a full bio-pharmaceutical, especially now that some of these have a lot of cash, with revenue streams from current licensings, and they are getting much better's deals with pharma's, or even bypassing by contracting out marketing. The last year has seen some new dynamics. Just a thought, Scott

To: Jim Oravetz who wrote (222)	3/14/2001 1:58:37 PM
From: Dave	Read Replies (1) \| Respond to of 370

Re: In three years time, it will be almost certain that the products that are in Phase I testing will either be failures or approved. If the science behind the company is solid, then money should not be a concern in three years time. If it looks like approval is more certain, getting beyond PII, then [issuing] more stock to raise cash levels is the most likely option. Some things have changed since this discussion in January, and I'd like to revisit the discussion. First, the TAPET patent has been approved, and that's good news. The technology is on track. But the cash burn rate has increased. VION's balance sheet and income statement indicate that their $23M balance (assets minus liabilities), at their current burn rate of $15M/year, will be depleted by about the middle of next year. Another thing that has changed is that investment funds are drying up. It will not be as easy to raise additional capital as it would have been a couple of years ago. So what will happen? Where should TAPET's clinical trials be by mid-2002? Does VION have any income sources in the near future? How would layoffs and cost-cutting measures affect their outlook? In short, can VION stay afloat long enough to fulfill their promise and cure cancer? Dave