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Vermillion Appoints Bruce A. Huebner As Interim Chief Executive Officer

AUSTIN, Texas, Nov. 27, 2012 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a molecular diagnostics company focused on ovarian cancer and vascular medicine, appointed director Bruce A. Huebner as interim chief executive officer. He succeeds Gail S. Page, who will assist in the transition and serve as a strategic advisor to the company as requested by its board of directors. Huebner will continue to serve on Vermillion's board of directors.

As previously announced, the company's board formed a succession committee of independent directors to oversee the process of identifying and selecting a new CEO. It has also retained a leading executive search firm with experience in CEO transitions to advise the board on potential candidates.

"With more than 37 years of diagnostic industry experience and leadership, as well as serving on a special Vermillion board committee that evaluates marketing strategies for OVA1®, Bruce will provide seasoned leadership as our interim CEO," said James S. Burns, the company's chairman of the board. "He will actively manage the business and ensure continuity of operations, as our succession committee searches for a new CEO who will take the company to its next level of growth and development.

"I would also like to thank Gail for the leadership and dedication that she has provided in bringing OVA1 to market and a pipeline of products to improve women's health. We look forward to consulting with Gail in the coming months as we continue to build advocacy for our ovarian cancer franchise among gynecologists and women's health groups."

Huebner has executive management experience in multiple clinical diagnostic companies, including Osmetech Molecular Diagnostics, Nanogen and Gen-Probe. While serving as president of Osmetech, he successfully established the company as a fully integrated business, obtaining FDA clearance for four molecular diagnostic microarray products and introducing them to the marketplace. Huebner was previously president and chief operating officer of Nanogen, a publicly held nanotechnology and microarray company.

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