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"Having this test available to patients marks a significant milestone forVermillion as we continue to build our high-value molecular diagnosticsbusiness," said Gail S. Page, President and Chief Executive Officer,Vermillion. "This diagnostic test is a testament to the power of ourdiagnostic technology and development capabilities."
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Under the terms of the agreement, Vermillion will license the TTP assay,co-developed with The Ohio State University Research Foundation, to The OhioState University for availability as a laboratory developed test through theOSU reference laboratory. OSU expects the test to be available by the end ofthe month and has demonstrated it to physicians at the American Association ofBlood Banking annual meeting. OSU also plans to show the TTP test at theAmerican Society of Hematology annual meeting in December. Utilizing SELDImass spectrometry, the TTP test directly measures enzymatic levels and isexpected to provide precise, quantitative and reproducible results with betterturnaround time when compared to current methods.
TTP is a life threatening blood-clotting disorder caused by a deficiencyin the enzyme ADAMTS13. Loss of this enzyme causes platelet clumping and redblood cell destruction, and can lead to neurological abnormalities andabnormalities in kidney function. Correct diagnosis and continual monitoringof patients with TTP is critical for understanding the patient's currentcondition and for selecting the proper course of treatment.
"The rapid and accurate diagnosis of TTP will enable timely treatment inthis serious disease. The SELDI instrumentation provides an ideal platform fordirectly measuring ADAMTS13 activity in patients suspected of having TTP,"said Haifeng M. Wu, M.D., Assistant Professor of Pathology and Medicine andDirector of Clinical Coagulation Laboratory at Ohio State University MedicalCenter.
About Vermillion, Inc.
Vermillion, Inc. is dedicated to the discovery, development andcommercialization of novel high-value diagnostic tests that help physiciansdiagnose, treat and improve outcomes for patients. Vermillion, along with itsprestigious scientific collaborators, has ongoing diagnostic programs inoncology/hematology, cardiology and women's health with an initial focus inovarian cancer. Vermillion is based in Fremont, California. More informationabout the Company can be found on the Web at http://www.vermillion.com.
About Ohio State University
Founded in 1870, Ohio State University is a world-class public researchuniversity and the leading comprehensive teaching and research institution inthe state of Ohio. The university is ranked by the National Science Foundationamong the Top 10 public research universities based on total researchexpenditures and has been named among the Top 25 public research universitiesevery year U.S. News & World Report has done the ranking. With more than52,500 students enrolled at its main Columbus campus, 18 colleges and 170majors, the university offers its students tremendous breadth and depth ofopportunity in the liberal arts, the sciences, and the professions.
Forward Looking Statements
This news release contains forward-looking statements that involvesignificant risks and uncertainties, including statements regardingVermillion's plans, objectives, expectations and intentions. Theseforward-looking statements are based on Vermillion's current expectations. ThePrivate Securities Litigation Reform Act of 1995 provides a "safe harbor" forsuch forward-looking statements. In order to comply with the terms of the safeharbor, Vermillion notes that a variety of factors could cause actua
