Monday, December 19, 2011
Vermillion Buys Ovarian Cancer Diagnostics Firm's Assets
Austin-based Vermillion, the developer of diagnostics tests for the oncology, hematology, cardiology and women's health areas, said today that it has acquired the ovarian cancer diagnostics business of Corerelogic Systems. The deal was worth $435,000 in cash. According to Vermillion, the deal includes 1,000 prospectively collected diagnostic samples from ovarian tumor studies, three biomarker-related pending U.S. patents, proprietary software and other intellectual property. Vermillion said the buy will help bolster its ovarian cancer testing efforts. Correlogic Systems went bankrupt under Chapter 11 in 2010.