FREMONT, Calif., March 3 /PRNewswire-FirstCall/ -- Vermillion, Inc. (Nasdaq: VRML), a high-value molecular diagnostics company, announced today that it has entered into an exclusive license agreement with Stanford University to develop and commercialize a novel biomarker panel used to assess the risk of peripheral artery disease (PAD). Estimated to affect up to 12 million Americans, PAD is a serious condition that often goes undiagnosed. The disease can result in severe complications, including gangrene, amputation, heart attack, stroke and even death.
Under the terms of the agreement, Vermillion is granted exclusive rights to the biomarker panel, and will undertake the development and commercialization of a PAD blood test, which utilizes the multi-marker panel to stratify an individual's risk for developing the disease.
"PAD is underdiagnosed and undertreated. We need new, innovative tools to aid in the diagnosis and management of this life and limb-threatening disease," said John Cooke, M.D., Ph.D., Professor of Medicine at Stanford University whose research has formed the basis of the Vermillion PAD blood test. "Through our successful venture with Vermillion, we are working to develop these essential tools to improve diagnosis, with the intent of expediting treatment and enhancing patient outcomes."
Gail Page, President and CEO of Vermillion, stated, "The license agreement with Stanford demonstrates our commitment to developing high-value molecular diagnostic products that aid in the management of complex diseases, such as PAD. We are confident that our collaboration with this distinguished research institution will continue to result in important clinical advances in the vascular arena."
In collaboration wi
|SOURCE Vermillion, Inc.|
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