Vermillion Announces Agreement with BlueCross BlueShield of Illinois

AUSTIN, Texas, Jan. 18, 2018 /PRNewswire/ -- ASPiRA LABS, a Vermillion company (NASDAQ: VRML) and exclusive distributor of OVA1 (Multivariate Index Assay, or MIA), an ovarian cancer risk assessment test, today announced it has entered into an agreement with BlueCross BlueShield of Illinois.

“ASPiRA Labs is excited to announce a contracted agreement for OVA1 with BCBS of Illinois, effective immediately,” said Fred Ferrara, Chief Operating Officer of Vermillion, Inc. “Blue Cross Blue Shield of Illinois is the largest PPO network in the state, providing benefits to approximately 7.9 million members across 102 counties. As demonstrated in a series of recent positive announcements, we are making considerable strides in expanding access to OVA1, the strongest performing multi-variate ovarian cancer risk assessment test for all ages, stages and types of ovarian cancer. Our increase in payer contracts will allow the majority of the population in the markets we serve to access OVA1, a critical tool in proactively managing ovarian cancer risk assessment!”

About Vermillion
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 2^nd Generation (MIA2G) test with significantly improved specificity and ease of use. For additional information, including published clinical trials, visit www.vermillion.com.

OVA1 has been rigorously validated to determine its effectiveness for evaluating the risk of ovarian cancer prior to surgery. Various trials have shown that OVA1 outperforms other blood tests like CA-125 and ROMA, reduces false negatives, and detects all types of ovarian cancer. For more information on these clinical validation studies refer to http://vermillion.com/providers/ova-1/clinical-validation-studies/.

Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties including statements regarding Vermillion’s position to expand coverage for OVA1 (MIA). 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.

Investor Relations Contact:
Michael Wood
LifeSci Advisors LLC
Tel 1-646-597-6983
mwood@lifesciadvisors.com

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SOURCE Vermillion, Inc.