Vermillion Completes $17.6 Million Warrant Exercise

             Vermillion Completes $17.6 Million Warrant Exercise

PR Newswire

AUSTIN, Texas, Dec. 19, 2013

AUSTIN, Texas, Dec. 19, 2013 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML),
a multivariate diagnostics company focused on gynecologic cancers and women's
health, announced that Oracle Investment Management, Jack W. Schuler, Matthew
W. Strobeck and certain other investors have exercised warrants to purchase
12.1 million shares of Vermillion common stock at an exercise price of $1.46
per share.

The warrants were issued in conjunction with an equity financing transaction
that closed on May 13, 2013. With the exercise of the warrants, Vermillion
received $17.6 million in proceeds, bringing the total investment by investors
in the May 2013 equity financing transaction to approximately $30.9 million,
before transaction costs. Emerging Growth Equities, Ltd. advised Vermillion on
the equity financing transaction.

Proceeds from the warrant exercise will be used to increase test sales and
improve reimbursement for OVA1, expand commercial opportunities in the U.S.
and new markets and advance one or more next-generation ovarian cancer
diagnostic tests.

About Vermillion
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,
visit www.vermillion.com.

Forward-Looking Statement
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-K for the year ended December 31, 2012 and the Form 10-Q
for the quarter ended March 31, 2013, filed with the Securities and Exchange
Commission (the "SEC"). 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 Vermillion's
most recent reports on Form 10-K and Form 10-Q filed with the SEC. 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.
Ron Both
Tel 1-949-574-3860
vrml@liolios.com

SOURCE Vermillion, Inc.

Website: http://www.vermillion.com
 
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