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Vermillion Receives Award From the Society of Gynecologic Oncologists
Date:2/28/2008

Company to Present New Data on its Ovarian Cancer Diagnostics Program at the Society of Gynecologic Oncologists' 39th Annual Meeting On Women's

Cancer

FREMONT, Calif., Feb. 28 /PRNewswire-FirstCall/ -- Vermillion, Inc. (Nasdaq: VRML), a high-value molecular diagnostics company, has received the Society for Gynecologic Oncologists (SGO) Basic Science Poster Award for its abstract, "Prospective independent validation of a marker panel for distinguishing benign from malignant pelvic masses." The abstract, which demonstrated that the Company's Ovarian Tumor Triage Test correctly identified 84 percent of ovarian cancer cases compared to only 33 percent identified using standard diagnosis methods without the test, was presented at the SGO's 38th Annual Meeting on Women's Cancer last year in San Diego.

In addition to receiving the award, Vermillion will present posters from three studies highlighting progress in the Company's ovarian cancer diagnostic program at this year's annual SGO meeting being held March 9-12 at the Tampa Convention Center in Tampa, Florida. Data will highlight Vermillion's Ovarian Tumor Triage Test, as well as focus on the use of protein biomarkers to potentially improve detection of early-stage disease.

"We are honored to receive this prestigious award from the SGO, which reflects the rigor and quality of the scientific programs conducted by Vermillion and its collaborators," said Eric T. Fung, M.D., Ph.D., Chief Scientific Officer of Vermillion. "We look forward to presenting data at this year's SGO meeting that will further confirm the benefits of our ovarian cancer diagnostic assays as we prepare to bring our first test -- the Ovarian Tumor Triage Test -- to patients and their physicians to help make critical treatment decisions."

The following poster presentations will take place on Sunday, March 9 - Tuesday, March 11, from [10:30 a.m. - 6:30 p.m. ET]:

-- Proteomic Markers Increase CA-125 Sensitivity for Early Detection of

Epithelial Ovarian Cancer

Collaborators: University of Texas M.D. Anderson Cancer Center

-- Validation of a Marker Panel for Distinguishing between Benign and

Malignant Pelvic Masses

Collaborators: The Danish Cancer Society, Copenhagen; Rigshospitalet,

University of Copenhagen; Johns Hopkins Medical Institutions, Baltimore

-- Calgranulin A and B are Cyst Fluid Biomarkers of Ovarian Cancer

Collaborators: University of Kentucky Chandler Medical Center,

Lexington

Additionally, Vermillion will be recognized for its winning poster at an awards ceremony on March 10 at the Tampa Convention Center. The Company will also have booth presence (#426) at the SGO meeting.

About Vermillion's Ovarian Cancer Diagnostic Program

Vermillion has multiple ovarian cancer diagnostic tests in development. The most advanced of Vermillion's programs is the Ovarian Tumor Triage Test, which utilizes a panel of biomarkers to help identify women with cancer so they can be referred directly to a gynecologic oncologist for their initial surgery, thus improving survival rates and potentially reducing the number of second surgeries performed. Vermilion intends to submit clinical trial data on the Ovarian Tumor Triage Test to the U.S. Food and Drug Administration for clearance as an in vitro diagnostic test in the coming months.

Additionally, studies are underway to detect early-stage ovarian cancer, predict prognosis and recurrence, and identify women considered at high-risk for the disease.

Vermillion's comprehensive diagnostic development program is being conducted with several leading collaborators at The Johns Hopkins School of Medicine, The University of Texas M.D. Anderson Cancer Center, Rigshospitalet (Copenhagen), and the University of Kentucky.

About Ovarian Cancer

According to the American Cancer Society (ACS), approximately 22,430 new cases of ovarian cancer will be diagnosed this year, and 15,280 deaths will be reported as a result of the disease. When diagnosed at its earliest stages, ovarian cancer has a 5-year survival rate of 93 percent. However, only 19 percent of ovarian cancers are diagnosed before the tumor has spread outside the ovary. For late-stage disease, the 5-year survival rate falls to 18 percent.

New diagnostic tests are needed to stratify patients with a pelvic mass into high risk of invasive ovarian cancer versus those with low risk, as well as a screening test for the diagnosis of early-stage ovarian cancer, which is essential for improving overall survival in patients. Ovarian cancer has up to a 90 percent cure rate following surgery and/or chemotherapy if detected in stage 1.

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 ongoing diagnostic programs in oncology, hematology, cardiology and women's health with an initial focus in ovarian cancer. 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. 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.


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