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Vermillion Retains ThinkPanmure to Assist in the Evaluation of Potential Strategic Alternatives

Monday, July 14, 2008 General News J E 4
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FREMONT, Calif., July 14 Vermillion, Inc.(Nasdaq: VRML), a molecular diagnostics company, today announced that it hasengaged ThinkPanmure LLC., a global, growth-company investment bank, to assistthe Company in identifying and evaluating strategic alternatives intended toenhance the potential of the Company's proteomic tests (OVA1(TM) andVASCLIR(TM)) and pipeline of proprietary biomarkers to maximize stockholdervalue. No assurances can be given that this evaluation will lead to anyspecific action or transaction.

"We continuously evaluate our strategic options to identify and developprospects for maximizing value for all stockholders and look forward toworking with ThinkPanmure in this regard," said Gail Page, President and ChiefExecutive Officer of Vermillion. "While reviewing the various alternatives,we will continue to advance our commercialization strategies, namely buildingmarketplace awareness for our women's health, oncology, and cardiac programswhich include the OVA1(TM) and VASCLIR(TM) tests."

About ThinkPanmure LLC

ThinkPanmure LLC is a research-centric institutional investment bankfocused on the growth economy. ThinkPanmure LLC is dedicated to providingstrategic advice, in-depth research coverage and capital to corporate clientsand institutional investors interested in the knowledge economy's key growthverticals: consumer business services, healthcare, media, and technology. Formore information about ThinkPanmure LLC, please visit www.thinkpanmure.com.Member NASD and SIPC.

About Vermillion

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 diagnostic programs in oncology,hematology, cardiology and women's health. Vermillion is based in Fremont,California. Additional information about Vermillion can be found on the Web athttp://www.vermillion.com.

Forward Looking Statements

This news release contains forward-looking statements that involvesignificant risks and uncertainties, including the risks and uncertaintiesdiscussed in Vermillion's Form 10-K for the year ended December 31, 2007, andVermillion's periodic reports on Form 10-Q and Form 8-K. Vermillion isproviding this information as of the date of this news release and does notundertake any obligation to update any forward-looking statements as a resultof new information, future events or otherwise. In particular, there can be noassurance that Vermillion will enter into a strategic transaction, that, ifany transaction is commenced, it will be completed or as to the value that anysuch transaction might have for Vermillion's stockholders. Forward-lookingstatements cannot be guaranteed and actual results may differ materially fromVermillion's current expectations. You are encouraged to read Vermillion'sreports filed with the U.S. Securities and Exchange Commission, available athttp://www.sec.gov.

SOURCE Vermillion, Inc.
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