March 13, 2013
/PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a molecular diagnostics company focused on gynecologic cancers and women's health, has appointed
as president and chief executive officer effective
March 18, 2013
. He succeeds
, the company's interim chief executive officer, who will remain a director of the company and assist in the transition.
McLain brings to Vermillion more than 20 years of experience in executive management and corporate governance for both public and privately held companies, with a strong record of turning companies into leading players in the medical diagnostic and biotechnology industry.
"We expect to benefit from Tom's seasoned skills, abilities and insights as we pursue strategies that expand our product pipeline and advance the development and commercial adoption of our diagnostic tests," said
James S. Burns
, Vermillion's chairman of the board. "We look forward to Tom's leadership in building a preeminent company in diagnostic tests that address unmet clinical needs in women's health, particularly in ovarian and other oncological cancers. We're also confident he will help broaden the use of our lead diagnostic test, OVA1®, which is unmatched in detecting ovarian cancer."
"I would also like to express our sincere appreciation to
for stepping up from his board duties to provide effective leadership during this transition period, and setting Vermillion on a solid course," added Burns. "We're looking forward to his continued contributions as a member of our board of directors and assistance with a smooth leadership transition."
Prior to joining Vermillion, McLain served as CEO and CFO of Claro Scientific, an early-stage diagnostic company. At Claro, he brought commercial focus to the development of its broad platform technology. This included the implementation of a cost-effective research and clinical study program, executing upon a milestone-structured investor and strategic partnering program, and forming partnerships that funded and advanced the company.