Vermillion Appoints Marian E. Sacco as SVP of Sales and Marketing and Chief
AUSTIN, Texas, Dec. 17, 2013
AUSTIN, Texas, Dec. 17, 2013 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML),
a molecular diagnostics company focused on gynecologic cancers and women's
health, has appointed Marian E. Sacco as senior vice president of sales and
marketing and chief commercial officer.
Ms. Sacco is a proven leader in launching and building markets for innovative
diagnostics to address key issues in improving women's health. She has more
than 25 years of experience in product development, worldwide marketing,
operations and sales management in both private and public companies. Her
focus on women's health began at Centocor Diagnostics where her achievements
include the U.S. launch of CA125 used to monitor ovarian cancer recurrence.
More recently, she successfully led the commercial effort to build the global
product market and laboratory service business for novel tests to manage
pregnancy risks and infertility diagnostics as senior vice president, sales
and marketing at Adeza BioMedical (acquired by Cytyc Corporation for more than
$450 million, now part of Hologic).
"We are excited to add Marian's experience, energy and expertise in women's
health and oncology to our team, as Vermillion expands its leadership role in
commercializing OVA1 and future diagnostic tests," said Tom McLain,
Vermillion's president and chief executive officer. "Marian has worked with us
as a consultant in developing our commercial strategy. In this new role, she
will draw on her proven track record in developing and executing sales and
marketing strategies to expand awareness with physicians, patients and
healthcare providers and drive increased use of OVA1."
Immediately prior to joining Vermillion, Ms. Sacco worked with numerous
women's healthcare companies as a strategy and commercialization consultant.
Her clients included both product and laboratory service companies focused on
new, novel tests and technologies in genetics, pregnancy, reproductive health
While at Adeza, Ms. Sacco oversaw both the strategic and day-to-day leadership
of a global sales and marketing organization of more than 120 people. Over a
10-year period, her organization grew annual revenues from $1 million to $60
million and built the market for a unique test to aid in the management of
preterm births. By working with clinical thought leaders, gynecologists,
nurses and health plans, she and her team successfully demonstrated that this
test was clinically relevant, evidence based and cost effective and improved
patient outcomes. This effort led to the introduction of new patient care
guidelines in leading healthcare institutions, a critical step in building
adoption, utilization and reimbursement.
Prior to Adeza, Ms. Sacco worked in senior commercial management roles at
Behring Diagnostics, Chiron Diagnostics, and Ciba Corning Diagnostics. During
this period, she developed and implemented novel oncology strategies including
the launch of "companion diagnostics" in partnership with pharmaceutical
business units. Early in her career at Centocor Diagnostics, she managed U.S.
sales, marketing and customer service for innovative cancer tests including
launches of CA125, as well as CA15-3 for breast cancer monitoring. Ms. Sacco
holds a Master's degree in Radiopharmaceutical Science from Northeastern
University and a Bachelors of Science degree in Chemistry/Biology from
Vermillion, Inc. (NASDAQ: VRML) is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help physicians
diagnose, treat and improve outcomes for patients. Vermillion, along with its
prestigious scientific collaborators, has diagnostic programs in gynecologic
oncology and women's health.
The company's lead diagnostic, OVA1®, is a blood test for pre-surgical
assessment of ovarian tumors for malignancy, using an innovative algorithmic
approach. As the first FDA-cleared, protein-based In Vitro Diagnostic
Multivariate Index Assay, OVA1 represents a new class of software-based
diagnostics. For additional information, including published clinical trials,
This press release contains forward-looking statements, as that term is
defined in the Private Litigation Reform Act of 1995 that involve significant
risks and uncertainties including statements regarding Vermillion's expected
cash outlay and Vermillion's ability to regain traction in reimbursement.
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. The forward-looking statements contained in this
press release are based on Vermillion's expectations as of the date of this
press release. A variety of factors could cause actual results and experience
to differ materially from the anticipated results or other expectations
expressed in such forward-looking statements. Factors that could cause actual
results to materially differ from those projected in such forward-looking
statements include but are not limited to: (1) uncertainty as to Vermillion's
ability to protect and promote its proprietary technology; (2) Vermillion's
lack of a lengthy track record successfully developing and commercializing
diagnostic products; (3) uncertainty as to whether Vermillion will be able to
obtain any required regulatory approval of its future diagnostic products; (4)
uncertainty of the size of market for its existing diagnostic tests or future
diagnostic products, including the risk that its products will not be
competitive with products offered by other companies, or that users will not
be entitled to receive adequate reimbursement for its products from
third-party payers such as private insurance companies and government
insurance plans; (5) uncertainty that Vermillion has sufficient cash resources
to fully commercialize its tests and continue as a going concern; (6)
uncertainty whether the trading in Vermillion's stock will become
significantly less liquid; and (7) other factors that are described in
Vermillion's Form 10-Q for the quarter ended September 30, 2013, filed with
the Securities and Exchange Commission. Vermillion expressly disclaims any
obligation to update, amend or clarify any forward-looking statements to
reflect events, new information or circumstances occurring after the date of
this press release, except as required by law.
This release should be read in conjunction with the consolidated financial
statements and notes thereto included in our most recent reports on Form 10-K
and Form 10-Q. Copies are available through the SEC's Electronic Data
Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov.
Investor Relations Contact:
Liolios Group, Inc.
SOURCE Vermillion, Inc.
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