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TheStreet Open House

Vermillion Enhances Management Team With A Key Addition

AUSTIN, Texas, Sept. 26, 2011 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML) a molecular diagnostics company, today announced the appointment of Donald Munroe, Ph.D. as Chief Scientific Officer and Vice President Research and Development.  He will be responsible for furthering development of Vermillion's two pipeline products, OVA2™ and VASCLIR®. Specifically, he will continue the preclinical studies and initiate appropriate clinical studies for registration of these products. As part of his role, he will identify and establish appropriate platform partnerships for the commercialization of these potential products. In conjunction with Dr. Munroe's hiring, Eric T. Fung, MD, Ph.D. will become Chief Medical Officer. Dr. Fung will focus on our OVA1® commercialization efforts, including providing ongoing medical support for Vermillion and Quest Diagnostics, assisting in obtaining reimbursement through payer meetings and post-marketing studies, and accelerating OVA1 international expansion. Additionally, Dr. Fung will provide medical support for the development of Vermillion's two pipeline products. These changes will become effective as of October 11th.

Dr. Munroe, age 54, has extensive experience in the diagnostic industry, and has been a key member of senior management in a number of prominent diagnostic and life science companies.  He served as Vice President, Immunoassay Research and Development from 2009 to 2011 at Beckman Coulter, a preeminent manufacturer of automated diagnostic tests and biomedical instruments. In this role, Dr. Munroe was responsible for launching key Immunoassay menu additions and re-standardizing existing assays.  Previously, Dr. Munroe worked at Invitrogen Corporation in several roles including Vice President, Research and Development (Transplant Diagnostics) from 2006 to 2008, Vice President, Global Program and Portfolio Management (Corporate) from 2004 to 2005, and Director, Research and Development (GIBCO™) from 2002 to 2003.  Dr. Munroe was Director of Technology Commercialization with Corning (Microarray Technologies) from 2000 to 2002, and has 10 years of pharmaceutical discovery research experience at R.W. Johnson Pharmaceutical Research Institute (1990 to 1995) and Allelix Biopharmaceuticals (1996 to 2000). Additionally, he has seven granted U.S. patents, and has authored peer-reviewed publications on the molecular basis of cancer, gastrointestinal disorders, inflammation and other topics.  

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