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Vermillion, Inc. Files a Voluntary Petition for Reorganization Relief Under Chapter 11 of the United States Bankruptcy Code
Date:4/2/2009

tive officers. The officers who have resigned following this request are Gail Page, President and Chief Executive Officer, Qun Zhou, Interim Chief Financial Officer, and Simon Shorter, Vice President of Corporate Business Development. The sole reason for these resignations was to conserve company resources and was not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices or in any way for cause. The resigning personnel will continue to act as consultants to Vermillion. They will accrue severance and other rights as a result of the termination to the extent funds for such payments are available in the bankruptcy reorganization.

About OVA1

Vermillion has multiple ovarian cancer diagnostic tests in development. The most advanced of Vermillion's programs is the OVA1 test, which is designed to utilize a panel of biomarkers to help identify women with a higher likelihood of malignancy so they can be referred to a gynecologic oncologist for their initial surgery. Vermillion filed a 510(k) Application with the U.S. Food and Drug Administration for its OVA1(TM) Test in June 2008.

On February 10, 2009, the company presented data from its prospective OVA1 clinical trial at the Society of Gynecologic Oncologists' (SGO) 40th Annual Meeting on Women's Cancer in San Antonio, TX. The primary aim of the study was to determine the ability of its proprietary OvaCalc algorithm to estimate the risk of malignancy in pre and postmenopausal women who were scheduled for surgery with an ovarian mass. The data demonstrated that the OvaCalc algorithm can effectively identify women with a higher likelihood of malignancy. Within the study population, the OvaCalc algorithm also detected 90% of Stage I epithelial ovarian cancer cases and 100% of stage 2-4 cancers while maintaining a greater than 90% negative predictive value among both premenopausal and postmenopausal patient
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