QualityStocks would like to highlight Vermillion, Inc. (NASDAQ: VRML), dedicated to the discovery, development, and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat, and improve outcomes for patients. Vermillion, along with its prestigious scientific collaborators, has ongoing programs in oncology/hematology, cardiology, and women’s health. The company's initial focus is ovarian cancer with OVA1®being the first FDA-cleared blood test for the preoperative assessment of ovarian tumors.
In the company’s news yesterday,
Vermillion announced that director Bruce A. Huebner has been appointed as interim CEO. He is following Gail S. Page, the company’s most recent CEO, who will assist in the transition and serve as a strategic advisor. Mr. Huebner will continue to serve on the board of directors as he assumes his new role.
Mr. Huebner has executive management experience in multiple clinical diagnostic companies, including Osmetech Molecular Diagnostics, Nanogen, and Gen-Probe. While serving as president of Osmetech, he successfully established the company as a fully integrated business, obtaining FDA clearance for four molecular diagnostic microarray products and introducing them to the marketplace. Huebner was also president and COO of Nanogen, a publicly held nanotechnology and microarray company.
Prior to Nanogen, Mr. Huebner was executive vice president and COO of Gen-Probe, a global leader in the development of nucleic acid tests. In less than 10 years, he grew Gen-Probe’s annual revenues from $42 million to a run-rate of more than $150 million. Huebner is currently a managing director of LynxCom Partners, a healthcare consulting firm with a focus on cancer diagnostics and personalized medicine.
“With more than 37 years of diagnostic industry experience and leadership, as well as serving on a special Vermillion board committee that evaluates marketing strategies for OVA1, Bruce will provide seasoned leadership as our interim CEO,” said James S. Burns, the company’s chairman of the board. “He will actively manage the business and ensure continuity of operations, as our succession committee searches for a new CEO who will take the company to its next level of growth and development.
Burns continued, “I would also like to thank Gail for the leadership and dedication that she has provided in bringing OVA1 to market and a pipeline of products to improve women’s health. We look forward to consulting with Gail in the coming months as we continue to build advocacy for our ovarian cancer franchise among gynecologists and women’s health groups.”
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