AUSTIN, Texas, Aug. 3, 2011 /PRNewswire/ — Vermillion, Inc.
(NASDAQ:
VRML), a molecular diagnostics company, today announced entry
into a definitive agreement with Pronto Diagnostics Ltd. as its
exclusive distributor of OVA1 in Israel and the Palestinian
territories. Pronto Diagnostics offers a clinical lab, regulatory
expertise, a broad distribution network, and years of experience
distributing oncology products into the Israeli market. They will
begin offering the test into the private pay market while
simultaneously starting the regulatory process to make the test
available to the publicly-funded Israeli HMO market.
“This distribution agreement is a significant milestone in
making this important new test available to women outside the
United States. Israel and the Palestinian territories represent a
new market opportunity of approximately 6 million women. With the
availability of OVA1, physicians in Israel and the Palestinian
territories can direct patients to the most appropriate surgeon,
promoting more favorable treatment outcomes,” said Gail S. Page,
President and CEO of Vermillion, Inc. “This further supports our
expansion efforts as we continue to develop our international
strategy in concert with the efforts already underway in the
US.”
“We are pleased by the confidence granted to us by Vermillion
for the exclusive distribution of OVA1 in Israel and the
Palestinian territories. This relationship will enable Pronto
Diagnostics to enlarge its offering of very innovative products in
the field of oncology diagnostics,” said Nir Navot, PhD, CEO of
Pronto Diagnostics.
About OVA1:
OVA1 is the first protein-based in vitro diagnostic
multi-variate index assay (IVDMIA), a new class of state of the art
software-based diagnostics, cleared by the FDA. The test utilizes
five well-established biomarkers — Transthyretin (TT or
prealbumin), Apolipoprote
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