M.M. Dillon & Co. (“Dillon”) acted as exclusive financial advisor and placement agent for Vion Pharmaceuticals, Inc. (“Vion” or the “Company”) in Vion’s issue of $40,00,000 in convertible senior notes. George Bickerstaff joined the Board of Vion to help direct the strategic direction of the Company. The proceeds were to be used for funding preclinical and clinical development activities, including clinical trials of Cloretazine, Triapine and VNP40541, payments to contract manufacturers for product production, interest payments on the notes, funding regulatory and pre-launch commercialization activities, and working capital
About Vion Pharmaceuitcals, Inc.:
Headquartered in New Haven, Connecticut, Vion Pharmaceuticals, Inc. is a publicly-traded biotechnology company focused on developing and commercializing novel agents for the treatment of cancer. The Company’s lead product, Cloretazine®, is being evaluated in two pivotal clinical trials for the treatment of acute myeloid leukemia (“AML”), as well as in small-cell lung cancer. Full accrual for the pivotal phase II clinical trial in elderly de novo poor-risk AML and the phase III clinical trial in first relapse AML was expected.
Lead product, Cloretazine, in late-stage clinical development:
Two pivotal clinical trials underway in AML
Under evaluation Phase II clinical trials in small-cell lung cancer
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.