FREMONT, Calif., Nov. 7 /PRNewswire-FirstCall/ -- Vermillion, Inc. today announced that The Ohio State University (OSU) will offer Vermillion’s diagnostic test for managing patients with thrombotic thrombocytopenic purpura (TTP), a hematologic disease.
“Having this test available to patients marks a significant milestone for Vermillion as we continue to build our high-value molecular diagnostics business,” said Gail S. Page, President and Chief Executive Officer, Vermillion. “This diagnostic test is a testament to the power of our diagnostic technology and development capabilities.”
Under the terms of the agreement, Vermillion will license the TTP assay, co-developed with The Ohio State University Research Foundation, to The Ohio State University for availability as a laboratory developed test through the OSU reference laboratory. OSU expects the test to be available by the end of the month and has demonstrated it to physicians at the American Association of Blood Banking annual meeting. OSU also plans to show the TTP test at the American Society of Hematology annual meeting in December. Utilizing SELDI mass spectrometry, the TTP test directly measures enzymatic levels and is expected to provide precise, quantitative and reproducible results with better turnaround time when compared to current methods.
TTP is a life threatening blood-clotting disorder caused by a deficiency in the enzyme ADAMTS13. Loss of this enzyme causes platelet clumping and red blood cell destruction, and can lead to neurological abnormalities and abnormalities in kidney function. Correct diagnosis and continual monitoring of patients with TTP is critical for understanding the patient’s current condition and for selecting the proper course of treatment.
“The rapid and accurate diagnosis of TTP will enable timely treatment in this serious disease. The SELDI instrumentation provides an ideal platform for directly measuring ADAMTS13 activity in patients suspected of having TTP,” said Haifeng M. Wu, M.D., Assistant Professor of Pathology and Medicine and Director of Clinical Coagulation Laboratory at Ohio State University Medical Center.
About Vermillion, Inc.
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 ongoing diagnostic programs in oncology/hematology, cardiology and women’s health with an initial focus in ovarian cancer. Vermillion is based in Fremont, California. More information about the Company can be found on the Web at http://www.vermillion.com.
About Ohio State University
Founded in 1870, Ohio State University is a world-class public research university and the leading comprehensive teaching and research institution in the state of Ohio. The university is ranked by the National Science Foundation among the Top 10 public research universities based on total research expenditures and has been named among the Top 25 public research universities every year U.S. News & World Report has done the ranking. With more than 52,500 students enrolled at its main Columbus campus, 18 colleges and 170 majors, the university offers its students tremendous breadth and depth of opportunity in the liberal arts, the sciences, and the professions.
Forward Looking Statements
This news release contains forward-looking statements that involve significant risks and uncertainties, including statements regarding Vermillion’s plans, objectives, expectations and intentions. These forward-looking statements are based on Vermillion’s 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. 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 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 diagnostic products; (5) uncertainty of market acceptance of its 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; and (6) other factors that might be described from time to time in Vermillion’s 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 Vermillion’s expectations or any change in events, conditions or circumstances on which any such statement is based, unless required by law.
CONTACT: Sue Carruthers of Vermillion, Inc., +1-520-505-2297; or Lori
Murray of WeissComm Inc., +1-415-946-1070, for Vermillion, Inc.
Web site: http://www.vermillion.com/
