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Vermillion, Quest Extend, Amend OVA1 Deal

NEW YORK (360Dx) –Vermillion and Quest Diagnostics have agreed to extend and amend their commercialization and services agreement for Vermillion's OVA1 ovarian cancer test.

In a March 1, 2018 filing with the US Securities and Exchange Commission, Vermillion said it has amended the agreement to extend the term from March 11, 2018 to March 11, 2019.

Under the amended agreement, Vermillion also agreed to pay an annual fee of $150,000 to Quest for the services of a full-time Quest project manager to handle issues around OVA1 and Overa specimens sourced to Quest's testing lab.

Vermillion and Quest originally signed the agreement in March of 2015 after terminating their original licensing agreement for OVA1. Under the agreement, Vermillion pays Quest a royalty of 2 percent on net sales and an annual minimum royalty of $25,000.

Quest has continued to provide specimen collection and logistics services for OVA1 and may provide the same for future Vermillion tests.