Vermillion files First Amended Plan of Reorganization and Disclosure Statement with the United States Bankruptcy Court

Vermillion, Inc. (VRML) (Pink Sheets: VRMLQ) announced that on December 3, 2009, it filed its First Amended Plan of Reorganization and related amended Disclosure Statement with the United States Bankruptcy Court for the District of Delaware.

A hearing to consider the adequacy of the Disclosure Statement is presently scheduled for December 8, 2009, with the hearing on the confirmation of the Plan scheduled for January 7, 2010.

"We are pleased to report that we have continued cooperation from our stakeholders on the restructuring," said Gail Page, Vermillion Executive Chairperson. "We have also made significant progress improving our balance sheet by equitizing most of our convertible debt. The principal balance of our 7% Senior Convertible Notes due 2011 has now been reduced to $5 million."

Subject to approval of the creditors and the bankruptcy court, the Company is poised to emerge from Chapter 11 in early January 2010.