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We are dedicated to the discovery, development and commercialization of novel high-value diagnostic and bio-analytical solutions that help physicians diagnose, treat and improve outcomes for women. Our tests are intended to detect, characterize and stage disease, and to help guide decisions regarding patient treatment, which may include decisions to refer patients to specialists, to perform additional testing, or to assist in monitoring response to therapy. A distinctive feature of our approach is to combine multiple biomarkers, other modalities and diagnostics, clinical risk factors and patient data into a single, reportable index score that has higher diagnostic accuracy than its constituents. We concentrate our development of novel diagnostic tests for gynecologic disease, with an initial focus on ovarian cancer. We also intend to address clinical questions related to early disease detection, treatment response, monitoring of disease progression, prognosis and others through collaborations with leading academic and clinical research institutions.
Vermillion’s Corporate Vision:
To drive the advancement of women’s health by providing innovative methods to detect, monitor and manage the treatment of gynecologic disease – both benign and malignant cancers as well as other gynecologic diseases.
We have expanded our corporate strategy with the goal of transforming Vermillion from a technology license company to a diagnostic service and bio-analytic solutions provider. Our plan is to broaden our commercial focus from ovarian cancer to differential diagnosis of women with a range of gynecological disorders. Our strategy will be deployed in three phases. The three phases are a rebuild phase, which we expect to complete in Q2 2015, a transformation phase, which is ongoing and is expected to span 2015, and a market expansion and growth phase, which we expect to begin in 2016.
During the first phase, we expanded our leadership team by hiring new heads of sales and customer experience, managed markets, marketing, operations, a chief medical officer and a chief executive officer. In addition, we expanded our commercial strategy, reestablished medical and advisory support, rebuilt our patient advocacy strategy and established a billing system and a payer strategy outside of our relationship with Quest Diagnostics. During the second phase, we plan to obtain licensure of ASPiRA LABS in all 50 states, establish our own payer coverage for OVA1 (MIA) and launch a second-generation OVA1 test, known as Overa (MIA2G). In the third phase we plan to commercialize Overa (MIA2G) by utilizing the full national licensure of ASPiRA LABS, managed care coverage in select markets, our sales force and existing customer base. Unlike OVA1 (MIA), Overa (MIA2G) uses a global testing platform, which will allow Overa to be deployed internationally. We also plan to demonstrate proof of concept for a LDT product series, which we refer to internally as OvaX. We anticipate that OvaX will include not only biomarkers, but also clinical risk factors and patient history data in order to boost predictive value.
|Audit Committee||Compensation Committee||Nomination and Corporate Governance Committee|
|Eric Varma, M.D.||Member|
|James S. Burns||Member||Chairperson|
|Veronica G.H. Jordan, Ph.D.||Member||Chairperson|
Vermillion, Inc. is followed by the analysts listed below. Please note that any opinions, estimates or forecasts regarding Vermillion, Inc.’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Vermillion, Inc. or its management. Vermillion, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
- Canaccord Genuity
- LifeSci Capital