Skip to main content
Premium Trial:

Request an Annual Quote

Vermillion Receives First $2M of $4M Loan From State of Connecticut

NEW YORK (GenomeWeb) – Vermillion said today that it has received a $2 million disbursement of a loan totaling as much as $4 million from the Connecticut Department of Economic and Community Development.

The company plans to use the funds primarily to build its new Trumbull, Connecticut facility, which will include laboratory and information technology infrastructure.

The remaining $2 million will be disbursed if and when Vermillion meets future milestones. Additionally, Vermillion may be eligible for forgiveness of up to $2 million of the loan's principal if it meets certain job creation and retention milestones as measured by March 1, 2018.

"This loan expands our cash balance and operating runway with non-dilutive financing," Vermilion President and CEO Valerie Palmieri said in a statement. "We look forward to utilizing the proceeds from this loan to make important investments to enhance our Northeast commercialization, strategic partnerships, and leverage operating efficiencies."

The 10-year loan carries a fixed interest rate of 2 percent per year.

The Scan

Quality Improvement Study Compares Molecular Tumor Boards, Central Consensus Recommendations

With 50 simulated cancer cases, researchers in JAMA Network Open compared molecular tumor board recommendations with central consensus plans at a dozen centers in Japan.

Lupus Heterogeneity Highlighted With Single-Cell Transcriptomes

Using single-cell RNA sequencing, researchers in Nature Communications tracked down immune and non-immune cell differences between discoid lupus erythematosus and systemic lupus erythematosus.

Rare Disease Clues Gleaned From Mobile Element Insertions in Exome Sequences

With an approach called MELT, researchers in the European Journal of Human Genetics uncovered mobile element insertions in exomes from 3,232 individuals with or without developmental or neurological abnormalities.

Team Tracks Down Potential Blood Plasma Markers Linked to Heart Failure in Atrial Fibrillation Patients

Researchers in BMC Genomics found 10 differentially expressed proteins or metabolites that marked atrial fibrillation with heart failure cases.