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Vermillion Announces U.S. Patent Office Re-Issues Seldi Mass Spectrometry Patent
Monday, November 05, 2007
Vermillion to Receive $2 Million from Bio-Rad Laboratories
Fremont, CA -- Vermillion, Inc. today announced that the United States Patent and Trademark Office has issued a Reexamination Certificate of U.S. Patent No. 6,734,022, which is directed to a fundamental process of SELDI mass spectrometry. As a result of the patent reissuance, Bio-Rad Laboratories is expected to pay Vermillion $2.0 million pursuant to the terms of the Asset Purchase Agreement entered into in connection with the sale of Vermillion's instrumentation business to Bio-Rad on November 13, 2006.
"We believe this patent further validates the innovation underlying SELDI technology and look forward to receiving Bio-Rad's payment," said Gail S. Page, President and Chief Executive Officer of Vermillion. "We continue to make excellent progress translating the SELDI-enabled biomarker discoveries into novel, high-value molecular diagnostic tests."
About Vermillion, Inc.
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. Based in Fremont, California, more 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 the risks and uncertainties discussed in Vermillion's Form 10-K for the year ended Dec. 31, 2006, and Vermillion's periodic reports on Form 10-Q and Form 8-K. Vermillion is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise. Forward-looking statement cannot be guaranteed and actual results may differ materially from Vermillion's current expectations. You are encouraged to read Vermillion's reports filed with the U.S. Securities and Exchange Commission, available at http://www.sec.gov.
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