Capital raise for Vermillion

Vermillion, a bio-analytical solutions company focused on gynecologic disease, announced that it intends to offer shares of its common stock and convertible preferred stock in concurrent but separate underwritten public offerings. The convertible preferred stock is non-voting and convertible into shares of Vermillion, Inc. common stock automatically upon receipt of stockholder approval of the conversion. The offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the offerings. As part of the common stock offering, Vermillion, Inc. is expected to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock being offered at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The offerings are being conducted as separate public offerings by means of separate prospectus supplements, and neither offering is contingent upon the consummation of the other. All of the shares will be offered by Vermillion, Inc.

Piper Jaffray & Co. is the sole underwriter for the offerings.

Vermillion intends to use the net proceeds from the offerings for working capital and general corporate purposes, including sales and marketing, portfolio expansion and general administrative expenses.

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