FREMONT, Calif., Jan. 7 /PRNewswire-FirstCall/ -- Vermillion, Inc. (VRML) today announced that its Plan of Reorganization was confirmed today by the United States Bankruptcy Court for the District of Delaware. The Honorable Judge Christopher S. Sontchi presided.
On December 28, 2009 Vermillion entered into securities purchase agreements in connection with a private placement with a group of investors effective December 24, 2009. Under the terms of the agreements, the Company will receive approximately $43.05 million in gross proceeds from the sale of approximately 2,328,000 shares of its common stock.
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 women's health. Vermillion is based in Fremont, California. Additional information about Vermillion can be found on the Web at www.vermillion.com.
OVA1(TM) Test is a trademark of Vermillion Inc.