- Award presented at Coalition's Annual Meeting
FREMONT, Calif., Sept. 8 /PRNewswire-FirstCall/ -- Vermillion, Inc. (Nasdaq: VRML), a molecular diagnostics company, announced today that a team of scientists at Stanford University and Vermillion has been awarded the prestigious "Best Research Award" at the Annual General Meeting of the PAD Coalition. Led by Dr. John Cooke at Stanford University and Dr. Eric T. Fung, Chief Scientific Officer at Vermillion, Inc., the research team discovered a novel set of biomarkers for PAD using SELDI-TOF proteomic profiling.
"It is an honor to receive this award in recognition of our research," said Dr. John Cooke. "PAD is a serious disease that often goes undiagnosed and untreated. "A blood test that identifies people at risk for this debilitating condition could improve diagnosis and give these people a better chance of getting the life- and limb-saving therapy they need."
The PAD Coalition is a non-profit alliance of 75 leading health organizations, health professional societies, and government agencies including the National Institute of Health that have united in the goal of reducing the morbidity and mortality associated with Peripheral Artery Disease.
Vermillion has entered into an exclusive license agreement with Stanford to develop and commercialize the PAD biomarker panel. The Company plans to make the biomarker panel available in immunoassay format which will assist in making the test widely available.
About Peripheral Artery Disease (PAD)
PAD, a serious but often asymptomatic disorder affecting some eight to 12 million Americans, is caused by the buildup of fat and cholesterol, or plaque, in the peripheral arteries, disrupting normal blood flow. Left untreated, PAD more than doubles the risk of heart attack and stroke and increases the risk of amputation and death. There are treatments that can save the lives and limbs of these patients, once the disease is recognized.
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 http://www.vermillion.com.
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. There is no guarantee of a correlation between identified biomarkers and PAD diagnosis. Even if such a correlation is identified, commercialization of a PAD diagnostic test is uncertain. Factors that could cause actual results to differ materially 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 PAD 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 PAD diagnostic products; (4) uncertainty as to whether Vermillion will be able to obtain any required regulatory approval of its PAD diagnostic products; (5) uncertainty of market acceptance of its PAD 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; 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.
|SOURCE Vermillion, Inc.|
Copyright©2008 PR Newswire.
All rights reserved