July 26, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Vermillion, Inc. (NASDAQ: VRML), a molecular diagnostics company, said that it is relocating its corporate headquarters from Fremont, California to Austin, Texas.

The company said it has executed a two-year lease for a new principal place of business in Austin. Vermillion said will continue to operate research and development, regulatory and quality operations in California.

All other functions will be conducted at the Austin offices.

Gail S. Page, CEO and chair of the board of Vermillion, said, "This move allows us to take advantage of Austin's strong talent pool and cost-effective environment to continue to build the company into a leading provider of novel, high-value diagnostic tests."

He said that Austin's central location also facilitates more efficient and effective interaction with the firm’s national sales force and its strategic partners on the East Coast, such as Quest Diagnostics and Johns Hopkins University, as well as our colleagues on the West Coast, such as PrecisionMed and Stanford University.

The move is scheduled to be completed in September 2010.

California-based Vermillion is focused on the discovery, development and commercialization of novel diagnostic tests, and has diagnostic programs in oncology, hematology, cardiology and women's health.

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