Published 20 December 2011
Vermillion has completed the acquisition of Correlogic Systems's entire ovarian cancer diagnostics business for $435,000 in cash.
The assets comprises more than 1,000 diagnostic samples from ovarian tumor studies, three biomarker-related pending US patents, proprietary software and other intellectual property.
Vermillion is planning to use these assets to develop its next-generation ovarian cancer test - OVA2.
Vermillion CEO Gail Page said while Vermillion notes the loss of a substantial competitor, the acquisition of these assets will enhance their development efforts, and provides savings in terms of time and cost.
"Further, the acquisition adds to our growing IP portfolio," Page said.
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