A recent announcement of an employee layoff has hit the news stand for Vion Pharmaceuticals, Inc. This announcement provided notification to 16 of its employees and one officer that their last day of employment would be December 7, 2009. These reductions represent approximately 48% of the Company's workforce. Which ultimately represents annual cash savings to the Vion Pharmaceuticales, Inc. of approximately $2.7 million.
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About Vion Pharmaceuticals
Vion Pharmaceuticals, Inc. is committed to extending the lives and improving the quality of life of cancer patients worldwide by developing and commercializing innovative oncology therapeutics. Vion has two agents in clinical trials, Onrigin(TM) (laromustine) Injection and Triapine®. The Company has submitted a New Drug Application to the FDA for Onrigin(TM) for remission induction treatment for patients sixty years of age or older with de novo poor-risk AML. The FDA's Oncologic Drug Advisory Committee has recommended to the FDA that a new randomized trial for Onrigin(TM) be completed prior to regulatory approval. Triapine®, a potent inhibitor of a key step in DNA synthesis, is being evaluated in clinical trials sponsored by the National Cancer Institute.
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