Vermillion Announces CEO Succession Plan
News Oct 30, 2012
The board of directors of Vermillion, Inc., has begun the process of identifying a successor to Gail S. Page, president and CEO.
The board has formed a search committee, with the goal of completing the search by September 2012.
James S. Burns, Vermillion's chairman of the board, commented: "During her tenure, Gail led the divestiture of the company's original research tools business, obtained FDA approval for OVA1® (the first proteomic IVDMIA to be cleared by the FDA), launched and commercialized OVA1 with Quest Diagnostics, created a molecular diagnostic development pipeline, and most recently, resolved major long-standing pieces of litigation with favorable outcomes for the company."
"Vermillion now enters a new commercial phase," continued Burns, "one in which we can expand the market for OVA1, continue OVA2™ and PAD development, and seek additional opportunities for Vermillion to build a molecular diagnostic franchise both on its own and in partnership with other companies. A leadership change at this point is consistent with our plans to advance the company to its next phase of growth. On behalf of the entire board, I would like to thank Gail for her dedication and outstanding service to Vermillion. Her achievements have been key to both the survival and early growth of our company. We wish her the very best in her new endeavors and look forward to a smooth transition."
Page commented: "I would like to thank the board, our shareholders and my colleagues who provided the opportunity to lead Vermillion during my tenure. The company has succeeded in a true pioneering effort, thanks to the hard work of its management and employees. I would especially like to thank those who worked tirelessly to help make OVA1 a life-saving test for the women who face the challenges associated with ovarian cancer. The company has a solid foundation for the future, and I remain committed to the tasks at hand and the smooth transition to a new president and CEO. The company has a first-class management team in place, and I am grateful for their support and that of our customers and collaborators."
As part of the leadership succession plan, Page has resigned from the board of directors.
New Rapid Test for Valley Fever Should Help Reduce Diagnosis DelaysNews
November saw a spike if cases of Valley fever. Fortunately, the recent—and timely—approval of a new rapid assay test for Valley fever should reduce delays in diagnosing the respiratory fungal infections—a frequent problem in treating the disease, which is caused by spores endemic to soils in the U.S. Southwest.READ MORE
Should Historic Doping Issues Strip All Athletes of World Records?News
A proposal had been put forward by the European Athletics Council to disregard all world records set before 2005 due to issues with doping. However, a recent publication suggests these plans should be abolished.READ MORE
Infrared Spectroscopy Test Can Diagnose Two Cancer TypesNews
Researchers used mid-infrared spectroscopy to analyze blood serum derived from experimental mice and differentiate mice with non-Hodgkin’s lymphoma and subcutaneous melanoma from healthy mice and also between these two tumorous conditions.READ MORE