I'm not sure that this can be done, as you are operating in two totally different domains.
That line of code you present does nothing different than if you double-clicked the vbscript file.
I've done next to no vbscript programming, but what about this... Create another script file (stub) that does nothing but call a function (subroutine) in your main, library file. Then, invoke the stub from the VB.net application.
library.vbs
Function LibraryFunction(oValue)
Wscript.Echo "LibraryRoutine Running!"
End Sub
...
stub.vbs
' Essentially "Import" the library script
Const ForReading = 1
Set objFSO = CreateObject("Scripting.FileSystemObject")
Set objFile = objFSO.OpenTextFile("procedures.vbs", ForReading)
Execute objFile.ReadAll()
' Call the appropriate function from library
LibraryFunction(4)
VB.net
System.Diagnostics.Process.start("stub.vbs")
Functions, Subroutines, and How to Call Them From Other Scripts