Myriad Genetics Announces Participation in Innovative Collaboration to Accelerate Hereditary Cancer Research
June 02 2014 - 10:45AM
Myriad Genetics, Inc. (Nasdaq:MYGN) and leading cancer experts from
the Memorial Sloan Kettering Cancer Center (MSKCC), Mayo Clinic,
Abramson Cancer Center of the University of Pennsylvania and other
laboratories are teaming up in a new partnership that will
dramatically advance the understanding of the risks associated with
multiple cancer genes that are being analyzed through next
generation sequencing technology. Specifically, the partners will
collaborate on the creation of a research study called the
Prospective Registry of Multiplex Testing (PROMPT).
The goals of the study are three-fold: 1) to create an online
registry of individuals consenting to a prospective follow up after
having been tested with a pan-cancer panel test such as Myriad's
myRisk⢠Hereditary Cancer; 2) to provide infrastructure for the
curation of specific genetic variants detected; and 3) to
facilitate additional studies to characterize the significance of
the genetic mutations. Myriad will contribute thousands of
genetic mutations and its scientific expertise gained from having
tested over 1.3 million patients for hereditary cancer risk.
"We look forward to collaborating with leading cancer centers to
help end preventable hereditary cancers. Myriad's contribution
of thousands of genetic mutations to the PROMPT study will help
make this goal a reality by ensuring that researchers have access
to critical, potentially life-saving information," said Richard
Wenstrup, M.D. chief medical officer at Myriad. "Through this
innovative data sharing partnership with some of the country's best
cancer genetics centers, we can more efficiently study genetic
mutations, maximize the impact of our research investments and help
ensure that patients will receive the best care possible."
This announcement continues Myriad's long-standing commitment to
research collaborations. Myriad currently is engaged in
scientific collaborations with more than 50 academic research
institutions to help advance medical and scientific knowledge and
healthcare overall. For more information visit:
www.myriad.com/responsibility/research-collaborations/.
About the Prospective Registry of Multiplex Testing
(PROMPT)
The PROMPT registry is a database that will include patients
identified with deleterious or suspected deleterious mutations in
any of the cancer susceptibility genes targeted in this research
study. Individuals will be offered the opportunity to join the
registry by participating in a process of informed consent.
The study's Principal Investigators are Mark Robson, M.D., of
the Clinical Genetics Service at MSKCC; Susan Domchek, M.D., of the
Abramson Cancer Center of the University of Pennsylvania; Fergus
Couch, Ph.D., of the Division of Experimental Pathology, Mayo
Clinic and Kenneth Offit, M.D., MPH, chief of the Clinical Genetics
Service at MSKCC.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic company
dedicated to making a difference in patients' lives through the
discovery and commercialization of transformative tests to assess a
person's risk of developing disease, guide treatment decisions and
assess risk of disease progression and recurrence. Myriad's
molecular diagnostic tests are based on an understanding of the
role genes play in human disease and were developed with a
commitment to improving an individual's decision making process for
monitoring and treating disease. Myriad is focused on strategic
directives to introduce new products, including companion
diagnostics, as well as expanding internationally. For more
information on how Myriad is making a difference, please visit the
Company's website: www.myriad.com. Myriad, the Myriad logo and
Myriad myRisk are trademarks or registered trademarks of Myriad
Genetics, Inc. in the United States and foreign countries. MYGN-F,
MYGN-G.
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the Company's participation
in the PROMPT research study; the goals and anticipated outcomes of
the research study; and the Company's strategic directives under
the caption "About Myriad Genetics." These "forward-looking
statements" are management's present expectations of future events
and are subject to a number of risks and uncertainties that could
cause actual results to differ materially and adversely from those
described in the forward-looking statements. These risks include,
but are not limited to: the risk that sales and profit margins of
our existing molecular diagnostic tests and companion diagnostic
services may decline or will not continue to increase at historical
rates; risks related to changes in the governmental or private
insurers reimbursement levels for our tests; the risk that we may
be unable to develop or achieve commercial success for additional
molecular diagnostic tests and companion diagnostic services in a
timely manner, or at all; the risk that we may not successfully
develop new markets for our molecular diagnostic tests and
companion diagnostic services, including our ability to
successfully generate revenue outside the United States; the risk
that licenses to the technology underlying our molecular diagnostic
tests and companion diagnostic services tests and any future tests
are terminated or cannot be maintained on satisfactory terms; risks
related to delays or other problems with operating our laboratory
testing facilities; risks related to public concern over our
genetic testing in general or our tests in particular; risks
related to regulatory requirements or enforcement in the United
States and foreign countries and changes in the structure of the
healthcare system or healthcare payment systems; risks related to
our ability to obtain new corporate collaborations or licenses and
acquire new technologies or businesses on satisfactory terms, if at
all; risks related to our ability to successfully integrate and
derive benefits from any technologies or businesses that we license
or acquire; risks related to increased competition and the
development of new competing tests and services; the risk that we
or our licensors may be unable to protect or that third parties
will infringe the proprietary technologies underlying our tests;
the risk of patent-infringement claims or challenges to the
validity of our patents; risks related to changes in intellectual
property laws covering our molecular diagnostic tests and companion
diagnostic services and patents or enforcement in the United States
and foreign countries, such as the Supreme Court decision in the
lawsuit brought against us by the Association for Molecular
Pathology et al; risks of new, changing and competitive
technologies and regulations in the United States and
internationally; and other factors discussed under the heading
"Risk Factors" contained in Item 1A of our most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission, as well as any updates to those risk factors filed from
time to time in our Quarterly Reports on Form 10-Q or Current
Reports on Form 8-K. All information in this press release is as of
the date of the release, and Myriad undertakes no duty to update
this information unless required by law.
CONTACT: Media Contact:
Ron Rogers
(801) 584-3065
rrogers@myriad.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
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