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Vermillion Adds Two Major Contracted Agreements for OVA1

893 Days ago

  Blue Cross Blue Shield of Texas and Blue Cross Blue Shield of Arizona now offering preferred coverage for  Vermillion’s ovarian cancer risk assessment test

  Over 167M total lives now under coverage with an additional 6M lives under contract

AUSTIN, Texas, June 20, 2019 (GLOBE NEWSWIRE) -- Vermillion, Inc. (NASDAQ: VRML), a bioinformatics-based women’s health company focused on gynecologic disease, today announced it has further expanded preferred coverage of its OVA1 (Multivariate Index Assay, MIA) ovarian cancer risk assessment test with the addition of two new health plan in network contracts.  Blue Cross Blue Shield of Texas and Blue Cross Blue Shield of Arizona will now provide contract coverage to nearly 6 million additional lives.

"We are very pleased to move two significant health plans: Blue Cross Blue Shield of Texas and Blue Cross Blue Shield of Arizona to ‘in-network’ agreements,” said Valerie Palmieri, CEO of Vermillion. “Nearly 6 million additional lives now have in-network access to our life saving risk assessment tests.  We believe we are well on our way to establishing OVA1 as the standard of care for ovarian cancer risk assessment, and we are very encouraged by physician and patient feedback from our early commercialization efforts.”

About Vermillion, Inc.

Vermillion, Inc. is dedicated to the discovery; development and commercialization of novel high-value diagnostic and bio-analytical solutions that help physicians diagnose, treat and improve gynecologic health outcomes for women. Vermillion, along with its prestigious scientific collaborators, discovers, develops, and delivers innovative diagnostic and technology tools that help women with serious diseases.  The company's initial in vitro diagnostic test, OVA1® (MIA), was the first FDA-cleared, protein-based In Vitro Diagnostic Multivariate Index Assay, and represented a new class of software-based liquid biopsy in vitro diagnostics. In March 2016, Vermillion received FDA clearance for Overa™, a Multivariate Index Assay 2nd Generation (MIA2G) test with significantly improved specificity and ease of use. For additional information, including published clinical trials, visit www.vermillion.com.

Visit our website for more information about our products at www.vermillion.com.

Forward-Looking Statement
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties.  All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements related to our commercialization plans for OVA1. Words such as “may,” “expects,” “intends,” “anticipates,” “believes,” “estimates,” “plans,” “seeks,” “could,” “should,” “continue,” “will,” “potential,” “projects” and similar expressions are intended to identify forward-looking statements.  These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties inherent in Vermillion’s business, including those described in the section entitled “Risk Factors” in Vermillion’s Annual Report on Form 10-K for the year ended December 31, 2018.  The events and circumstances reflected in Vermillion’s forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements.  Vermillion expressly disclaims any obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this press release, except as required by law.

Investor Relations Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
Tel 617-535-7742

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