Finance

Cancer-focused pharmaceutical company signs agreements for sale of common stock

Published in Biotech Business Week, February 21st, 2005

Vion Pharmaceuticals, Inc. (VION) has agreed to sell up to 10,000,000 shares of its common stock in a registered direct offering at a price of $3.25 per share to institutional investors.

All of the shares are being sold by Vion Pharmaceuticals, Inc., and the shares are being offered under the company's effective shelf registration statement relating to the possible sale from time to time of the company's securities.

CIBC World Markets Corp. and Leerink Swann & Company are acting as the exclusive placement agents for the offering.

Vion also announced the death of Walter B. Wriston, a member of its board of directors.

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Source: Biotech Business Week (2005-02-21)

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