Correlogic, Vermillion deal
Vermillion acquired substantially all of Correlogic's assets, which are related to its ovarian cancer diagnostics business, for $435,000 in cash. The assets include Correlogic's OvaCheck1, OvaCheck2 and Mass Spectrometer Test development-stage diagnostics for detecting ovarian cancer, over 1,000 diagnostic samples from ovarian cancer studies, three biomarker-related U.S. patents and software. Vermillion will use the assets to develop OVA2, a next-generation ovarian cancer test. Vermillion's OVA1, an in vitro diagnostic multivariate index (IVDMIA) test based on SELDI ProteinChip technology, is marketed in the U.S. by Quest Diagnostics Inc. (NYSE:DGX, Madison, N.J.) to assess the likelihood that an ovarian mass is benign or malignant. OVA1 is approved in the EU for the indication. ...