Vion Pharmaceuticals, Inc.Four Science Park

New Haven, CT 06511

Sale Commences 7:00 a.m. (PST) Wednesday, March 17, 2010, Lots Begin Closing at 3:00 p.m. (PST) Thursday, March 18, 2010

P H A R M A C E U T I C A L S , I N C

By order of the U.S. Bankruptcy Court, Case # 09-14429

Global Online Auction of a State of the art Developer of Innovative Drug Therapies

for the Treatment of Cancer

Global Online Auction at:Global Online Auction at:www.hgpauction.com

Sale Commences 7:00 a.m. (PST) March 17, 2010, Lots Begin Closing at 2:00 p.m. (PST) March 18, 2010

Public Preview, March, 16, 9:00am - 5:00pm, at:Vion Pharmaceuticals, Inc4 Science ParkNew Haven, CT 06511

Contact: All Interested Parties Should Contact:

J. Bruce Costelloemail: bcostello@hgpauction.comphone: (650) 400-0328

Buyer’s Premium: 18% / 15% (refer to term 7 in the Auction Terms and Conditions for details). Sale will be conducted in English and will accept only U.S. currency.

GLOBAL ONLINE AUCTION OF A STATE OF THE ART

DEVELOPER OF INNOVATIVE DRUG THERAPIES FOR THE

TREATMENT OF CANCERBy Order of the U.S. Bankruptcy Court:

7:00 a.m. (PST) March 17, 2010, Lots Begin Closing at 2:00 p.m. (PST)

March 18, 2010

Auctioneer’s Note:HGP is pleased to be selected to conduct this Global Online Auction of a State of the Art Developer of Innovation Drug Therapies for the Treatment of Cancer.This Global Online Auction will feature well maintained R&D Laboratory Equipment, Centrifuges, HPLC Systems, Shakers, Plate Readers, Spectrometers, Office Equipment, Computers and more.Please view our website at www.hgpauction.com for the bidding instructions and the full terms of the sale. Thank you for your interest, and we look forward to providing you quality equipment sales and World Class Service.

Best Regards,

Ross and Kirk DoveManaging PartnersHeritage Global Partners

R & D L a b E q u i p m e n t

P H A R M A C E U T I C A L S , I N CThermo Finnigan LTQ 1000Mass Spectrometer System w/ HPLC, autosampler, pump, UV-VIS Detector

Lab-Line Environ-CabOrbit Shaker

Ixia XM12Molecular Devices Spectra Max M2 Plate Reader and a Molecular Devices Emax Precision Microplate Reader

Beckman LE-80Centrifuge

Harris HSO501D-ABAOrbit Shaker (Large Quantities)

NucleoVision NucleoTechUV Transilluminator w/camera

Water Purification System

R & D L a b E q u i p m e n t C o n t i n u e d

Beckman GS-6RCentrifuge

Innova 4000Incubator/Shaker

Beckman LS6500Scintillation Counter System

Guava Technologies EasyCyteConsolidated Autoclave (Qty. 3)

Agilent 1100 HPLC (Qty. 3)

G1379A/G1311A/G1329A/G1330B/G1316A/G1315B degasser, quatpump, autosampler, column compartment, DAD detector

Large quantity of Temperature Controlled Freezers

Lab Line Enviorn-CabOrbit Shaker

Qty. 3

Bruker 300MHz/ NMR

I . T. , S e r v e r a n d N e t w o r k i n g

Large quantities of Compaq, Dell and IBM ServersHundreds of Servers, PC’s, Laptops and Notebooks, Flat Panel Displays, 3G Phones, Network Routers, Switches, Lazerjets, and Merlin Phone System with Voicemail.Products form Apple, Cisco, Dell, Foundry, HP, IBM, Netgear, Sony and More.

Apple iMac G4700GHz, 40GB

Apple iMac20”/2.16GHz Intel Core 2 Duo, 250GB

Apple MacBook Pro 17”2.33GHz Intel Core 2 Duo, 160GB

Qty. 1

Compaq EVO N600CEVO N600C 7/1200 3GB

Keri SystemsProximity Security System

Security System

C o n s u m a b l e s a n d G l a s s w a r e

To View A Complete listing of Equipment and Full Sale Terms and Conditions,Log onto www.hgpauction.com

E x e c u t i v e C o n f e r e n c e R o o m s a n d S e a t i n g

O f f i c e F u r n i s h i n g s a n d W o r k s t a t i o n s

F i l e a n d F i r e C a b i n e t s

Global Headquarters Hacienda Del Mar12625 High Bluff DriveSan Diego, CA 92130Phone (858) 847-0650Fax (858) 847-0660www.hgpauction.com

©2010 HERITAGE GLOBAL PARTNERS, ALL RIGHTS RESERVEDComplete Terms & Conditions are contained in the Sale Catalog and on the website at www.hgpauction.com.

Please review the Terms and Conditions prior to placing bids on any items. Global Headquarters: San Diego, California

GLOBAL ONLINE AUCTION OF A STATE OF THE ARTDEVELOPER OF INNOVATIVE DRUG THERAPIES

To View A Complete Listing of Equipment and Full Sale Terms and Conditions, Log onto www.hgpauction.com

VALUATION SFor accurate Valuation numbers you can rely on, contact us at :valuations@hgpauction.com

Vion Pharmaceuticals, Inc.

Sale to include Complete R&D Biotechnology Laboratory and full I.T. Inventory of Laptops, Desktops, Modems, Switches, Printers and much more..Accepting Bids Commencing March 17, 2010

Terms & Conditions• Buyers are responsible for all shipping and rigging charges. • All items are sold AS IS, WHERE IS AND WITH ALL FAULTS. • Heritage Global Partners shall charge and collect from each successful bidder a 18% buyer’s premium for each sale at the auction, in addition to the purchase price as bid. Purchasers who pay in the form of certified funds or wire transfer shall receive a discount from the buyer’s premium equal to 3% of the purchase price. • Each successful bidder must pay a 25% deposit toward the purchase price immediately following the successful bid. • Applicable taxes will be added to the purchase price of all taxable items. • Acceptable means of payment include certified funds, wire transfers, Visa’, American Express’ and Mastercard’. • The complete terms and conditions that govern this auction will be distributed at the auction site and/or are available on our website at www.hgpauction.com. The complete terms and conditions may include terms unique to this particular auction. Please read them carefully before you bid in the auction. If you participate in the auction, you will be deemed to have read and consented to all of the terms and conditions.

UPCOMING SALE CALENDAR

P H A R M A C E U T I C A L S , I N C

Online Auction Sale Sealed Bid Sale

MARCH 10: Complete Liquidation

of Silicon Carbide Radiation Sensor &

Thin Film Temperature Sensor Manufacturing

Facility

ACCEPTING BIDSPatents and Intellectual Properties of Heetronix

Corporation

Private Treaty Sale

APRIL 22: PSS Sale

Pharmaceutical Equipment Private

Treaty Sale

Private Treaty Sale

ACCEPTING BIDSComplete

PVC Coating Line for Woven Fabrics

By order of VantageIndustries

Vantage Industries