AUSTIN, Texas, Nov. 3, 2011 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a leading molecular diagnostics company, has received a notice of allowance from the United States Patent and Trademark Office for its fifth patent covering a combination of biomarkers that could be used in the diagnosis of Peripheral Artery Disease (PAD), a condition that raises the risk of heart attack and stroke.
The patent, entitled "Beta-2 Microglobulin (B2m) and C Reactive Protein (CRP) as Biomarkers for Peripheral Artery Disease," involves a unique combination of B2m and CRP, two proteins that have been demonstrated in numerous studies to be associated with PAD.
"This patent substantially strengthens our IP portfolio around the development of VASCLIR®, our product under development for diagnosing PAD," said Dr. Eric Fung, Vermillion's chief medical officer, "and the notice of allowance follows the promising top line results we achieved from our recently completed intended use study."
The goal of the study was to develop and validate a biomarker panel applicable to the intended use population. The results have yielded significant insights regarding individual biomarkers. The details of the study and its results will be made public via a formal presentation at an upcoming cardiovascular meeting.
"This study is an important advancement, " noted Dr. Fung, "since according to the U.S. Department of Health and Human Services, one in every 20 Americans over the age of 50 has PAD."(1)
For additional information about Vermillion, contact Liolios Group at 949-574-3860 or email [email protected].
Vermillion, Inc. (NASDAQ: VRML) 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. Additional information about Vermillion can be found at www.vermillion.com.
About Liolios Group
Liolios Group, Inc. is a highly selective and comprehensive investor relations firm specializing in small and micro-cap companies. Liolios Group aims to deliver superior performance in corporate messaging and positioning, investor awareness, analyst and financial press coverage, and capital attraction. Founded in 1996 in Newport Beach, California, Liolios Group's senior partners each have more than 16 years of experience in finance and investments, and have represented more than 120 companies in a wide range of industries. For more information about Liolios Group, go to www.liolios.com.
Certain matters discussed in this press release contain 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 as to Vermillion's ability to protect and promote its proprietary technology; (2) Vermillion's lack of a lengthy track record successfully developing and commercializing diagnostic products; (3) uncertainty as to whether Vermillion will be able to obtain any required regulatory approval of its future diagnostic products; (4) uncertainty of the size of market for its existing diagnostic tests or future 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; (5) uncertainty that Vermillion will successfully license or otherwise successfully partner with third parties to commercialize its future products; (6) uncertainty whether the trading in Vermillion's stock will become significantly less liquid; and (7) 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 this report, 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.
This release should be read in conjunction with the consolidated financial statements and notes thereto included in our most recent reports on Form 10-K and Form 10-Q. Copies are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov.
(1) National Institutes of Health Publication No. 06-5837
SOURCE Vermillion, Inc.