Date:3/17/2008

ontinue operations as a result, and a variety of other risks set forth from time to time in Vion's filings with the Securities and Exchange Commission, including but not limited to the risks attendant to the forward- looking statements included under Item 1A, "Risk Factors" in Vion's Form 10-K for the year ended December 31, 2006 and the Company's Form 10-Q for the quarter ended September 30, 2007. In particular, there can be no assurance as to the results of any of the Vion's clinical trials, that any of these trials will continue to full accrual, or that any of these trials will not be discontinued, modified, delayed or ceased altogether. Except in special circumstances in which a duty to update arises under law when prior disclosure becomes materially misleading in light of subsequent events, Vion does not intend to update any of these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

COMPANY CONTACT: Vion Pharmaceuticals, Inc.

Alan Kessman, Chief Executive Officer

Howard B. Johnson, President & CFO

(203) 498-4210

VION PHARMACEUTICALS, INC.

(A Development Stage Company)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended Year Ended

(In thousands, except per share December 31, December 31,

data) 2007 2006 2007 2006

(Unaudited)

Technology license fee revenue $50 $6 $66 $22

Operating expenses:

Clinical trials 2,846 3,087 13,627 13,070

Other research and development 2,673 1,900 10,571 8,414

Total research and

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SOURCE Vion Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved

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