Myriad Genetics Collaborates with CareFirst BlueCross BlueShield on Coverage with Evidence Development (CED) Study for the V...
November 06 2017 - 7:05AM
CareFirst BlueCross BlueShield (CareFirst) and Myriad Genetics,
Inc. (NASDAQ:MYGN), a global leader in molecular diagnostics and
personalized medicine, today announced that they have signed an
agreement to collaborate on a clinical utility study for the
Vectra® DA test in patients with rheumatoid arthritis (RA).
Vectra DA is a pioneering test designed to predict whether patients
with RA are at risk for radiographic progression (RP) so that
rheumatologists can optimize treatment decisions.
The agreement is part of CareFirst’s new Healthworx program that
enables CareFirst to work with pioneering companies to bring new
technologies and care advances to bear to benefit its members and
the organizations insured by CareFirst.
“CareFirst is committed to making timely and informed decisions
about molecular diagnostic tests that show potential to improve
outcomes and lower costs,” said CareFirst Vice President and Senior
Medical Director Daniel Winn, M.D. “Historically, disease
activity measures were subjective or not reproducible and as a
consequence inconsistently used to guide treatment decisions for RA
patients. Given the emerging evidence for Vectra DA, we are
excited to work with Myriad and evaluate the benefits of the Vectra
DA test for our physicians and members.”
The 18-month study is designed to show that the use of Vectra DA
will lead to better outcomes and reduced costs compared to
conventional approaches. The study will be conducted by about 40
rheumatologists in the CareFirst network.
“We are excited to collaborate with CareFirst and further
demonstrate the advantage of integrating Vectra DA as a routine
part of rheumatoid arthritis patient care,” said Chip Parkinson,
executive vice president, Reimbursement Strategies, Myriad
Genetics. “We believe this collaborative approach can be
replicated with other molecular diagnostics to speed up the
reimbursement process for innovative new technologies.”
Vectra DA has been shown in multiple clinical studies to be the
best predictor of radiographic progression in RA patients.
Importantly, high Vectra DA scores were associated with increased
risk for RP in six studies, including patients treated with
synthetic or biologic DMARDs. To date, Vectra DA has been used by
approximately 70 percent of practicing rheumatologists with more
than 350,000 patients to optimize treatment decisions for their
patients.
About Vectra® DA Vectra DA is the most
predictive disease activity measure for rheumatoid arthritis and is
a multi-biomarker blood test that integrates the concentrations of
12 serum proteins into a single objective score, on a scale of 1 to
100, to help physicians make more informed treatment decisions.
Vectra DA testing is performed at the Crescendo Bioscience
state-of-the-art CLIA (Clinical Laboratory Improvement Amendments)
facility. Test results are reported to the physician 5 to 7 days
from shipping of the specimen to Crescendo Bioscience.
Physicians can receive test results via standard mail, by fax or
via the private web portal, VectraView. For more information on
Vectra DA, please visit: www.Vectra-DA.com.
About CareFirst BlueCross BlueShieldIn its 79th
year of service, CareFirst, an independent licensee of the Blue
Cross and Blue Shield Association, is a not-for-profit health care
company which, through its affiliates and subsidiaries, offers a
comprehensive portfolio of health insurance products and
administrative services to 3.2 million individuals and groups in
Maryland, the District of Columbia and Northern Virginia. In 2016,
CareFirst invested nearly $44 million to improve overall health,
and increase the accessibility, affordability, safety and quality
of health care throughout its market areas.
About Myriad GeneticsMyriad Genetics Inc., is a
leading personalized medicine company dedicated to being a trusted
advisor transforming patient lives worldwide with pioneering
molecular diagnostics. Myriad discovers and commercializes
molecular diagnostic tests that: determine the risk of developing
disease, accurately diagnose disease, assess the risk of disease
progression, and guide treatment decisions across six major medical
specialties where molecular diagnostics can significantly improve
patient care and lower healthcare costs. Myriad is focused on
five strategic imperatives: stabilizing hereditary cancer
revenue, growing new product volume, expanding reimbursement
coverage for new products, increasing RNA kit revenue
internationally and improving profitability with Elevate
2020. For more information on how Myriad is making a
difference, please visit the Company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris
AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer,
myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx,
myChoice HRD, EndoPredict, Vectra, GeneSight, riskScore and
Prolaris are trademarks or registered trademarks of Myriad
Genetics, Inc. or its wholly owned subsidiaries in the United
States and foreign countries. MYGN-F, MYGN-G. Safe Harbor
StatementThis 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
collaboration with CareFirst in the Coverage with Evidence
Development (CED) Study for the VectraDA test; the timing,
completion and outcome of the Study; the design of the 18-month
Study to show that the use of Vectra DA will lead to better
outcomes and reduced costs compared to conventional approaches; the
number of rheumatologists in the CareFirst network which will
conduct the Study; the Company’s excitement to collaborate with
CareFirst; further demonstrating the advantage of integrating
Vectra DA as a routine part of rheumatoid arthritis patient care;
the Company’s belief that this collaborative approach can be
replicated with other molecular diagnostics to speed up the
reimbursement process for innovative new technologies; and the
Company’s strategic directives under the captions “About VectraDA”
and “About Myriad Genetics.” These “forward-looking statements” are
based on management’s current 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 or implied 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
pharmaceutical and clinical services may decline or will not
continue to increase at historical rates; risks related to our
ability to transition from our existing product portfolio to our
new tests; risks related to changes in the governmental or private
insurers’ reimbursement levels for our tests or our ability to
obtain reimbursement for our new tests at comparable levels to our
existing tests; risks related to increased competition and the
development of new competing tests and services; the risk that we
may be unable to develop or achieve commercial success for
additional molecular diagnostic tests and pharmaceutical and
clinical services in a timely manner, or at all; the risk that we
may not successfully develop new markets for our molecular
diagnostic tests and pharmaceutical and clinical 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 pharmaceutical and clinical
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 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, including
but not limited to our acquisition of Assurex, Sividon and the
Clinic; risks related to our projections about the potential market
opportunity for our products; 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 pharmaceutical and
clinical 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; the risk that we may be unable to comply with
financial operating covenants under our credit or lending
agreements; the risk that we will be unable to pay, when due,
amounts due under our credit or lending agreements; and other
factors discussed under the heading “Risk Factors” contained in
Item 1A of our most recent Annual Report on Form 10-K, which has
been 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.
Media Contacts: Ron Rogers
(801) 584-3065rrogers@myriad.com
CareFirst Media
Relations1-800-914-NEWSmediarelations@carefirst.com
Investor Contact: Scott Gleason(801)
584-1143sgleason@myriad.com
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