ASPiRA LABS Announces In-Network Contract Agreement With HealthNet Federal Services For OVA1

Published: Oct 03, 2017

AUSTIN, Texas, Oct. 2, 2017 /PRNewswire/ -- ASPiRA Labs, a Vermillion company (NASDAQ: VRML), today announced it has entered into an in-network contract agreement with HealthNet Federal Services, effective January 1, 2018.  This contract brings total TriCare coverage for ASPiRA Labs to over 9.4 million lives.

"Expanding coverage with HealthNet Federal Services across the West TriCare Region is the latest expansion of coverage for OVA1 (MIA)," said Fred Ferrara, Chief Operating Officer of Vermillion, Inc. "The expanded contract is significant as it increases coverage to our uniformed service members and their families. We continue to pursue key contracts at favorable rates while further expanding access to our technology." 

As previously announced in March 2017, the company entered into an agreement with Humana Military for coverage of the TriCare South Region. TriCare is restructuring its three regions into two regions. On January 1, 2018, the former North and South Regions will become the new East Region, and the West Region will remain the same.  Accordingly, as of January 1, 2018, ASPiRA Labs will be contracted in both TriCare regions (West and East).  "We believe Vermillion is well positioned to continue to expand coverage and increase access to OVA1 (MIA) for women with a pelvic mass, helping to ensure optimal care for more patients. We continue to execute on our managed care strategy in 2017, gaining momentum and positively impacting access for women nationwide."

"The mortality rate of ovarian cancer has not changed in 40 years, even following the introduction of the CA125 biomarker. Today, two thirds of women with ovarian cancer do not receive the appropriate treatment course. Expanding our covered lives is at the center of our market strategy!"

OVA1 (MIA) demonstrates reduced false negative rates for earlier and improved detection of ovarian cancer.  Links to multiple clinical studies showing OVA1 (MIA)'s strong performance over CA125 and ROMA with ovarian cancer can be found on our website: 

http://vermillion.com/providers/ova-1/clinical-validation-studies/.

About Vermillion
Vermillion, Inc. is dedicated to the discovery, development and commercialization of novel high-value diagnostic and bio-analytical solutions that help physicians diagnose, treat and improve gynecologic health outcomes for women. Vermillion, along with its prestigious scientific collaborators, discovers, develops, and delivers innovative diagnostic and technology tools that help women with serious diseases.  The company's initial in vitro diagnostic test, OVA1® (MIA), was the first FDA-cleared, protein-based In Vitro Diagnostic Multivariate Index Assay, and represented a new class of software-based liquid biopsy in vitro diagnostics. In March 2016 Vermillion received FDA clearance for Overa, a Multivariate Index Assay 2nd Generation (MIA2G) test with significantly improved specificity and ease of use. For additional information, including published clinical trials, visit www.vermillion.com.

Forward-Looking Statements

This press release contains forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding Vermillion's position to expand coverage for OVA1 (MIA). Words such as "may," "expects," "intends," "anticipates," "believes," "estimates," "plans," "seeks," "could," "should," "continue," "will," "potential," "projects" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained in this press release are based on Vermillion's expectations as of the date of this press release. 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, including changes to interpretations of existing laws and regulations and other factors that are described in Vermillion's Form 10-K for the year ended December 31, 2016 and Form 10-Q for the quarter ended March 31, 2017 as filed with the Securities and Exchange Commission. Vermillion expressly disclaims any obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this press release, except as required by law.

Investor Relations Contact:

Michael Wood
LifeSci Advisors LLC
Tel 1-646-597-6983
mwood@lifesciadvisors.com

 

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SOURCE Vermillion, Inc.

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