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Myriad Genetics Enters Testing Agreement With Teva Subsidiary

Date : 03/28/2012 @ 5:53PM
Source : Dow Jones News
Stock : Myriad Genetics, Inc. (MM) (MYGN)
Quote : 39.09  0.0 (0.00%) @ 2:05AM
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Myriad Genetics Enters Testing Agreement With Teva Subsidiary

Myriad Genetics (NASDAQ:MYGN)
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Molecular-diagnostic company Myriad Genetics Inc. (MYGN) said Wednesday it agreed to conduct BRCA1 and BRCA2 mutation testing for Cephalon Inc., a Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) subsidiary, to help assess women's risk for hereditary breast and ovarian cancer.

BRCA1 and BRCA2 are human genes that belong to a class of tumor suppressor genes. Mutation of these genes has been linked to hereditary breast and ovarian cancer, according to the National Cancer Institute.

Under the agreement, Myriad will assess the BRCA status in patients prior to being enrolled in a Phase I/II study. Myriad has entered into similar agreements with Abbott Laboratories (ABT), AstraZeneca PLC (AZN, AZN.LN) and BioMarin Pharmaceutical Inc. (BMRN) to provide companion diagnostic testing for clinical trial enrollment.

Myriad's shares closed Wednesday at $23.56 and were inactive after hours. The stock is up 15% over the past three months.

-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

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