SALT LAKE CITY, Oct. 2, 2017 /PRNewswire/ -- Myriad
Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics
and personalized medicine, continues to demonstrate an unmatched
commitment to hereditary cancer risk assessment and genetic testing
during Breast Cancer Awareness Month. As the second leading
form of cancer in the United
States, breast cancer kills one woman every 13 minutes, with
more than 250,000 new cases of breast cancer expected to be
diagnosed this year alone.
"Myriad has been actively contributing to the fight against
breast cancer since 1991. We have been at the forefront of a
change in hereditary cancer risk assessment and witnessed
remarkable progress in the last 25 years. More than ever
before, our hereditary cancer risk assessment and genetic tests
deliver critical answers, providing women with more power and
control over their future," said Johnathan
Lancaster, M.D., Ph.D., chief medical officer, Myriad
Genetics. "Conquering a devastating illness like breast
cancer will require even more effort. Myriad will accomplish
this through pioneering innovation, research collaborations and
investment. We're optimistic that we will make an even bigger
difference for women in the years ahead."
Our Portfolio of Leading Breast Cancer Tests
Myriad's
portfolio of personalized medicine tools to help doctors prevent
and treat breast cancer include: myRisk® Hereditary
Cancer, riskScore™, and EndoPredict®.
Additionally, the Company is advancing its companion diagnostics
such as BRACAnalysis CDx® and myChoice® HRD
for patients with breast cancer through ongoing research
collaborations with multiple pharmaceutical companies.
Following is an overview of Myriad's portfolio of personalized
medicine tests for breast cancer:
- myRisk® Hereditary Cancer is a 28-gene panel
and helps doctors understand an unaffected woman's risk of
developing hereditary breast cancer using genetic testing and
family history. In contrast, for women already diagnosed with
breast cancer, the myRisk test can help identify their risk of
secondary cancers, help inform medical management, and may help
prevent cancer in unaffected family members who inherited a
cancer-causing mutation.
People can find out if they're candidates for myRisk Hereditary
Cancer by going to HereditaryCancerQuiz.com. The quiz
is a brief online questionnaire that helps people determine whether
they should be further evaluated for hereditary breast cancer and
other types of cancer. On average, the quiz takes less than 1
minute to complete.
- riskScore™ is the newest addition to Myriad's breast
cancer portfolio and is available for certain patients who receive
a negative myRisk Hereditary Cancer test result. riskScore
combines genetic markers throughout the human genome with a woman's
family and clinical history to predict her 5-year and lifetime risk
of developing breast cancer.
- EndoPredict® is a test that combines genetic
and clinical data to identify women with low-risk breast cancer who
can safely forego chemotherapy after surgery and help maintain
their quality of life.
Myriad is known for pioneering scientific breakthroughs and
exceptional science. We bring that same spirit to our partnerships
with pharmaceutical companies to develop companion diagnostic
tests. These personalized medicine tests will help identify
patients who are likely to benefit from certain medicines.
Our companion diagnostic tests include:
- BRACAnalysis CDx is a companion diagnostic test that
detects germline BRCA1 and BRCA2 mutations and helps
indicate whether or not patients with cancer who may preferentially
benefit from the PARP inhibitor class of drugs. Most recently,
BRACAnalysis CDx was used to successfully identify patients with
metastatic breast cancer that responded to PARP inhibitors and will
be submitted to the FDA as a companion diagnostic for use in these
patients.
- MyChoice HRD is a test that assesses a cancer's
inability to repair DNA damage. The results will help doctors
identify more patients who may preferentially benefit from
DNA-damaging medicines and PARP inhibitors. myChoice HRD is being
studied in ongoing clinical trials for breast cancer.
If you are interested in learning more about Myriad's commitment
to breast cancer, talk to your healthcare professional and visit
www.myriad.com to learn more about myRisk Hereditary Cancer,
riskScore, EndoPredict, BRACAnalysis CDx and myChoice HRD.
Our Commitment to Patient Advocacy and Access
Myriad
is committed to advocating for the discovery and delivery of
personalized medicine for patients with breast cancer. The
company has a long track record of partnering with advocacy
organizations that promote awareness and research on breast cancer
and many other diseases. Additionally, we believe access to
genetic testing is an essential component of personalized medicine
and can help patients live longer, healthier lives, while saving
the healthcare system money.
Patients can access our genetic testsa number of ways, including
through health insurance coverage from an employer-sponsored health
plan, a health insurance exchange plan or a program like Medicare
or Medicaid. Myriad also offers financial assistance programs
for those who may have trouble accessing tests or lack
coverage. The Company has provided more than $76 million in financial assistance to patients
over the past five fiscal years (Table 1).
Table 1: Myriad Financial Assistance Contributions
FY2017
|
FY2016
|
FY2015
|
FY2014
|
FY2013
|
$20,946,808
|
$17,800,000
|
$14,300,000
|
$13,300,000
|
$10,400,000
|
Learn more about access to our tests with insurance coverage as
well as the financial assistance program at
https://myriadpromise.com/
About Myriad Genetics
Myriad 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
three strategic imperatives: maintaining leadership in an
expanding hereditary cancer market, diversifying its product
portfolio through the introduction of new products and increasing
the revenue contribution from international markets. 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, EndoPredict, myPath, myRisk, Myriad myRisk, myRisk
Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor
BRACAnalysis CDx, myChoice HRD, Vectra DA, GeneSight, EndoPredict
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 Statement
This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
relating to related to Myriad's continued and demonstrated
commitment to hereditary cancer risk assessment and genetic testing
during Breast Cancer Awareness Month; Myriad's ability and efforts
to conquering a devastating illness like breast cancer; the
advancement of Myriad's companion diagnostics such as BRACAnalysis
CDx® and myChoice® HRD for patients with breast cancer through
ongoing research collaborations with multiple pharmaceutical
companies; the overview of Myriad's portfolio of personalized
medicine tests for breast cancer: and the Company's strategic
directives under the caption "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.
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SOURCE Myriad Genetics, Inc.