Vion Pharmaceuticals Inc - Statement of Ownership (SC 13G)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Vion Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

927624502

(CUSIP Number)

March 10, 2008

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:

[ ]Rule 13d-1(b)

[ X ]Rule 13d-1(c)

[ ]Rule 13d-1(d)

---

CUSIP No. 927624502 1.Names of Reporting Persons. (i) Meditor Group Ltd. (ii) Meditor Master Cobra Fund Ltd. I.R.S. Identification Nos. of above persons (entities only). (i) ................. (ii) ................. 2.Check the Appropriate Box if a Member of a Group (See Instructions) [ ](a) [ ](b) 3.SEC Use Only 4.Citizenship or Place of Organization (i) Bermuda (ii) Bermuda Number of Shares Beneficially Owned by Each Reporting Person With: 5.Sole Voting Power (i) ......... (ii) ......... 6.Shared Voting Power (i) 420,270 (ii) 420,270 7.Sole Dispositive Power (i) ......... (ii) ......... 8.Shared Dispositive Power (i) 420,270 (ii) 420,270 9.Aggregate Amount Beneficially Owned by Each Reporting Person (i) 420,270 (ii) 420,270 10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] 11.Percent of Class Represented by Amount in Row (9) (i) 5.2% (ii) 5.2% 12.Type of Reporting Person (See Instructions) (i) CO (ii) CO ------------------------------------------------------------- Item 1. (a) Name of Issuer VION PHARMACEUTICALS, INC. (b) Address of Issuer's Principal Executive Offices 4 Science Park, New Haven, CT06511 Item 2. (a) Name of Person Filing (i) Meditor Group Ltd. (ii) Meditor Master Cobra Fund Ltd. (b) Address of Principal Business Office or, if none, Residence (i) 79 Front Street, Hamilton, Bermuda (ii) 6 Front Street, Hamilton, Bermuda (c) Citizenship (i) Bermuda (ii) Bermuda (d) Title of Class of Securities Common Stock (e) CUSIP Number 927624502 Item 3. Not applicable. Item 4. Ownership. (a) Amount beneficially owned: (i) 420,270 (ii) 420,270 (b) Percent of class: (i) 5.2% (ii) 5.2% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote (i) ......... (ii) ......... (ii) Shared power to vote or to direct the vote (i) 420,270 (ii) 420,270 (iii) Sole power to dispose or to direct the disposition of (i) ......... (ii) ......... (iv) Shared power to dispose or to direct the disposition of (i) 420,270 (ii) 420,270 Item 5. Ownership of Five Percent or Less of a Class Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Meditor Master Cobra Fund Ltd., an investment management client of Meditor Group Ltd., has the right to receive and the power to direct the receipt of dividends from, and the proceeds from the sale of, the securities identified herein. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. Not applicable. Item 8. Identification and Classification of Members of the Group Not applicable. Item 9. Notice of Dissolution of Group Not applicable. Item 10. Certification By signing below each of the undersigned certifies that, to the best of their knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. March 18, 2008 Meditor Group Ltd. By S. Shakerchi (Director) Meditor Master Cobra Fund Ltd. By T. Shakerchi (Director) ============================================================================= JOINT FILING AGREEMENT The undersigned each hereby agree to the joint filing of statements on Schedule 13G (and amendments thereto) relating to the common stock of Vion Pharmaceuticals, Inc. April 27, 2007 Meditor Group Ltd. By S. Shakerchi (Director) Meditor European Master Fund Ltd. By T. Shakerchi (Director)