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8-K - FORM 8-K - Aspira Women's Health Inc. | f54389e8vk.htm |
Exhibit 99.1
47350 Fremont Blvd. Fremont, CA 94538 Tel: 510 226 2800 Fax: 510 226 2801 www.vermillion.com |
CONTACT FOR VERMILLION
Jill Totenberg
The Totenberg Group
jt@totenberggroup.com
(212) 994 7363; (917) 697 6900
Jill Totenberg
The Totenberg Group
jt@totenberggroup.com
(212) 994 7363; (917) 697 6900
VERMILLION ANNOUNCES APPOINTMENT OF WILLIAM C. WALLEN, Ph.D. TO
BOARD OF DIRECTORS
BOARD OF DIRECTORS
FREMONT, Calif., December 14, 2009 Vermillion, Inc. (Nasdaq: VRML), a molecular diagnostics
company, today announced William C. Wallen, Ph.D. Chief Scientific Officer, Senior Vice President,
Research and Development for IDEXX Laboratories, will be joining its board of directors upon
confirmation of Vermillions bankruptcy plan.
Bill brings more than 20 years research and development experience in diagnostics and
biotechnology, said Gail Page Vermillion Executive Chairperson. His broad knowledge of product
development and particularly biomarkers will be invaluable to Vermillion as we both market OVA1 and
more fully develop our biomarker product pipeline.
Prior to joining IDEXX Laboratories, Dr. Wallen held a number of high level positions with Bayer
Healthcare, Diagnostics Division achieving the position of Senior Vice President, Head Officer of
Technology. He previously held leadership roles at Becton Dickenson and Wampole Laboratories, a
division of Carter-Wallace, Inc. Dr. Wallen received his Bachelor and Masters of Science from
Michigan State University and his Ph.D. in Molecular Biology from University of Arizona College of
Medicine.
He is a member of the American Association of Clinical Chemistry, the American Society for
Microbiology, American Association for Cancer Research, The Leukemia society of America, and the
New York Academy of Science. He has published 55 papers.
We are thrilled that someone with Dr. Wallens stature and expertise has selected Vermillion to be
the company on whose Board he wishes to sit.
# # #
About Vermillion
Vermillion, Inc. is dedicated to the discovery, development and commercialization of novel
high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators, has diagnostic programs in
oncology, hematology, cardiology and womens health. Vermillion is based in Fremont, California.
Additional information about Vermillion can be found on the Web at www.vermillion.com.
About the OVA1 Test
The OVA1 Test is a qualitative serum test that combines the results of five immunoassays into a
single numerical score. It is indicated for women who meet the following criteria: over age 18,
ovarian adnexal mass present for which surgery is planned, and not yet referred to an oncologist.
The test utilizes five well-established biomarkers Transthyretin (TT or prealbumin),
Apolipoprotein A-1 (Apo A-1), b2-Microglobulin (b2M), Transferrin (Tfr) and
Cancer Antigen 125 (CA 125 II) and a proprietary algorithm to determine the likelihood of
malignancy in women with pelvic mass for whom surgery is planned.
OVA1 Test is a trademark of Vermillion Inc.
OVA1 Test is a trademark of Vermillion Inc.
Forward-Looking Statements
This news release contains forward-looking statements that involve significant risks and
uncertainties, including statements regarding Vermillions plans, objectives, expectations and
intentions. These forward-looking statements are based on Vermillions current expectations. The
Private Securities Litigation Reform Act of 1995 provides a safe harbor for such forward-looking
statements. In order to comply with the terms of the safe harbor, Vermillion notes that a variety
of factors could cause actual results and experience to differ materially from the anticipated
results or other expectations expressed in such forward-looking statements. There are no guarantees
that Vermillion will succeed in its efforts to commercialize ovarian cancer or OVA1 diagnostics
products in 2009 or during any other period of time. Factors that could cause actual results to
materially differ include but are not limited to: (1) uncertainty in obtaining intellectual
property protection for inventions made by Vermillion; (2) unproven ability of Vermillion to
discover, develop, and commercialize ovarian cancer diagnostic products based on findings from its
disease association studies; (3) unproven ability of Vermillion to discover or identify new protein
biomarkers and use such information to develop ovarian cancer diagnostic products; (4) uncertainty
as to whether Vermillion will be able to obtain any required regulatory approval of its future
ovarian cancer diagnostic products; (5) uncertainty of market acceptance of its OVA1 diagnostic
test or future diagnostic products, including the risk that its products will not be competitive
with products offered by other companies, or that users will not be entitled to receive adequate
reimbursement for its products from third party payors such as private insurance companies and
government insurance plans; (6) uncertainty that Vermillion will successfully license or otherwise
successfully partner its products; (7) uncertainty that
Vermillion will have the resources to
successfully complete its bankruptcy reorganization; (8) uncertainty as to whether operating under
Chapter 11 may harm our business; (9) uncertainty regarding whether we will be able to obtain
confirmation of a Chapter 11 plan of reorganization;
(10) uncertainty as to whether we will be able to emerge from bankruptcy without being liquidated
or obtain the necessarily funding to continue as a going concern; (11) uncertainty whether a plan
of reorganization may result in holders of our common stock receiving no or limited distributions
on account of their interests and cancellation of their common stock; (12) uncertainty whether
operating under the U.S. Bankruptcy Code may restrict our ability to pursue our business strategies
and identify and develop additional diagnostic products; (13) uncertainty whether the trading in
our stock will become significantly less liquid or our ability to relist on shares on the Nasdaq
Global Select Market or other national securities exchange; and (14) other factors that might be
described from time to time in Vermillions filings with the Securities and Exchange Commission.
All information in this press release is as of the date of the release, and Vermillion expressly
disclaims any obligation or undertaking to release publicly any updates or revisions to any such
statements to reflect any change in Vermillions expectations or any change in events, conditions
or circumstances on which any such statement is based, unless required by law.