Vermillion Appoints Jeffrey M. Salzman as Corporate Director of Reimbursement

AUSTIN, Texas, Sept. 23 /PRNewswire-FirstCall/ -- Vermillion, Inc. (Nasdaq: VRML), a molecular diagnostics company, today announced the appointment of Jeffrey M. Salzman as Corporate Director of Reimbursement. In his role, Mr. Salzman will be responsible for developing and executing payor strategies for Vermillion.

(Photo:  http://photos.prnewswire.com/prnh/20100923/SF70031)

(Photo:  http://www.newscom.com/cgi-bin/prnh/20100923/SF70031)

"We are delighted to have Jeff join our team in this crucial role," said Gail S. Page, CEO and Chairperson of the Board of Directors of Vermillion. "Expanding coverage for OVA1™ is a key initiative for the Company and Jeff's 21 years of experience and relationships should be a great accelerator on this front."

Mr. Salzman joins Vermillion most recently from IPSOGEN Inc. where he served as Director of Health Plans and Payor Markets from September 2009 to September 2010. From 2008 through 2009, he held the position of Corporate Account Manager for the Mid-Atlantic and Northeast regions at Monogram Biosciences where he launched two molecular diagnostic assays in infectious disease and oncology. Previously, Mr. Salzman spent a total of nine years at Quest Diagnostics, eight as an Account Executive of Health Plans and Payor Markets and one year as Director of Health Plan Marketing. Additionally, he worked four years at Prudential Healthcare as Regional Manager of Provider Relations and four years at Humana in various administrator roles. Mr. Salzman received his Master of Health Management from St. Thomas University and his Bachelor of Science in Marketing from Florida State University.

"I am very excited to join Vermillion during the early stage of the OVA1 commercial launch," said Mr. Salzman. "My priority will be to leverage my years of experience within the payor community as well as interfacing with Quest Diagnostics to build upon the coverage momentum currently underway."

About Vermillion

Vermillion, Inc. 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 oncology, hematology, cardiology and women's health. Additional information about Vermillion can be found on the Web at www.vermillion.com.

Forward-Looking Statement

Certain matters discussed in this press release contain forward-looking statements that involve significant risks and uncertainties, including statements regarding Vermillion's plans, objectives, expectations and intentions. These forward-looking statements are based on Vermillion's current expectations. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, Vermillion notes that 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 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 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 payors such as private insurance companies and government insurance plans; (5) uncertainty that Vermillion will successfully license or otherwise successfully partner with third parties to commercialize its future products; (6) uncertainty whether the trading in Vermillion's stock will become significantly less liquid; and (7) other factors that might be described from time to time in Vermillion's filings with the Securities and Exchange Commission. All information in this press release is as of the date of this report, and Vermillion expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Vermillion's expectations or any change in events, conditions or circumstances on which any such statement is based, unless required by law.

SOURCE Vermillion, Inc.

Suggested Articles

All 12 members of an FDA advisory committee voted to recommend the approval of teprotumumab for a rare, autoimmune eye disease.

Early data out of former Fierce 15 winner Gritstone Oncology have been heralded as a big win for the early-stage biotech by analysts.

Biogen will drop work on gosuranemab in progressive supranuclear palsy but continue on in Alzheimer's.