I believe you can exchange vampire teeth in the mage tower for healing potions. I could be wrong as I don't use them, but I think I read that here.
It used to be five vampire fangs would get you a potion of restore, but now five vampire fangs gets you a mundane cure serious wounds potion. It's not really worth it anymore.
Oh, and the elite vampire hearts that give you one potion of cure serious wounds... it's a giggle.
Bodak teeth, however, as far as I know, are worthless.