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Vermillion Announces $21.8 Million Public Offering
Date:2/15/2011

AUSTIN, Texas, Feb. 15, 2011 /PRNewswire/ -- Vermillion, Inc. (Nasdaq: VRML), a molecular diagnostics company, announced today that it has agreed to sell 4,000,000 shares of its common stock in an underwritten public offering at a price of $5.45 per share.  The Company expects that the net proceeds of the offering will be approximately $20,210,000 after deducting underwriting discounts and expected offering expenses.  The Company intends to use the net proceeds from this offering to fund the expansion of the US Sales organization and the associated reimbursement activities, to pursue its expansion and capitalize upon the international opportunities, to accelerate the clinical trials of its diagnostic test for peripheral arterial disease and OVA2, to develop additional diagnostic tests, to pursue product diversification opportunities, and for other general corporate purposes.  The offering is expected to close on or about February 18, 2011, subject to customary closing conditions.

Roth Capital Partners acted as the sole manager of the offering.  The underwriter has been granted a 30-day option to purchase up to 500,000 additional shares from the Company and 100,000 shares from a selling stockholder to cover over-allotments, if any.

The offering is being made under the Company's registration statement on Form S-1 (File No. 333-171797).  This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such state or jurisdiction.  

A prospectus relating to the offering has been filed with the Securities and Exchange Commission.  A copy of the prospectus can be accessed direc
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SOURCE Vermillion, Inc.
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