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

To: Pierre Borczuk who wrote (75)	2/9/1998 1:52:00 PM
From: Pierre Borczuk	Read Replies (1) \| Respond to of 370

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.