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Vermillion Files Amended Plan of Reorganization and Exchanges Debt
Date:12/4/2009

FREMONT, Calif., Dec. 4 /PRNewswire-FirstCall/ -- Vermillion, Inc. (VRML) (Pink Sheets: VRMLQ) announced that on December 3, 2009, it filed its First Amended Plan of Reorganization and related amended Disclosure Statement with the United States Bankruptcy Court for the District of Delaware.

A hearing to consider the adequacy of the Disclosure Statement is presently scheduled for December 8, 2009, with the hearing on the confirmation of the Plan scheduled for January 7, 2010.

"We are pleased to report that we have continued cooperation from our stakeholders on the restructuring," said Gail Page, Vermillion Executive Chairperson. "We have also made significant progress improving our balance sheet by equitizing most of our convertible debt. The principal balance of our 7% Senior Convertible Notes due 2011 has now been reduced to $5 million."

Subject to approval of the creditors and the bankruptcy court, the Company is poised to emerge from Chapter 11 in early January 2010.

About Vermillion

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 www.vermillion.com.

About the OVA1 Test

The OVA1 Test is a qualitative serum test that combines the results of five immunoassays into a single numerical score. It is indicated for women who meet the following criteria: over age 18, ovarian adnexal mass present for which surgery is planned, and not yet referred to an oncologist. The test utilizes fi
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SOURCE Vermillion, Inc.
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