UPDATE 1-FDA approves Quest, Vermillion ovarian cancer test

* First FDA-approved test for ovarian cancer

* Vermillion shares rise $1.24 to $1.29

LOS ANGELES, Sept 11 (Reuters) - The U.S. Food and Drug Administration on Friday said it has approved a blood test for detecting ovarian cancer in a pelvic mass that already is known to require surgery.

The test, called OVA1, helps patients and healthcare providers decide what type of surgery should be done and by whom, the FDA said in a statement.

The test was developed by molecular diagnostics company Vermillion Inc VRMLQ.PK in cooperation with Quest Diagnostics (DGX.N), the world's leading provider of cancer diagnostics.

It uses a blood sample to test for levels of five proteins that change due to ovarian cancer.

Quest said it has exclusive rights to offer the test to the clinical reference laboratory market in the United States for three years.

Pink sheet-listed shares of Vermillion rose $1.24 to close at $1.29, while shares of Quest fell 33 cents to close at $54.22 on the New York Stock Exchange. (Reporting by Deena Beasley; editing by Carol Bishopric),