The US Oncology Network Selects Myriad Genetics as Preferred Provider for Hereditary Cancer Testing
October 04 2016 - 7:05AM
Myriad Genetics, Inc. (NASDAQ:MYGN) and The US Oncology Network
(The Network) announced today that The Network has selected Myriad
Genetic Laboratories as its preferred provider laboratory for
hereditary cancer testing. The US Oncology Network is one of the
nation’s largest networks of integrated, community-based, and
independent physician practices dedicated to advancing
high-quality, evidence-based cancer care. With more than 1,000
affiliated physicians in 19 states, providers in The Network treat
over 800,000 patients every year.
As part of the collaboration, Myriad and The US
Oncology Network will work together to perform hereditary cancer
research through the Genetic Risk Evaluation and Testing (GREAT)
program within The Network affiliated practices. Under this
program, the two organizations will collaborate to create a
database that links patient outcomes with genetic test results.
Principal among the research aims of this program is to better
understand the genotype-phenotype correlation, gene prevalence, and
research related to improving patient counselling and access to
testing. The scale achieved by combining the largest hereditary
cancer testing laboratory in the world with the more than 350 sites
of care affiliated with The US Oncology Network will lead to
unprecedented insights into the field of oncology.
"We are excited to work with Myriad as they have
been a pioneer in personalized medicine for more than 25 years and
have an unmatched reputation for diagnostic accuracy and customer
service," said Michael Seiden, MD, PhD, chief medical officer of
The US Oncology Network. "Additionally, Myriad’s expertise and
scientific leadership, having authored or co-authored over 50
peer-reviewed publications in the last three years, makes them an
ideal research collaborator for The US Oncology Network."
"We are exceptionally pleased to work with The
US Oncology Network, and are honored by their recognition of Myriad
as a preferred provider laboratory," said Johnathan M.
Lancaster, MD, PhD, chief medical officer of Myriad Genetic
Laboratories, Inc. "We share with The Network an absolute
commitment to the highest possible quality of clinical
care. We will continue to invest in both research and
customer service, which set Myriad apart as the industry
gold-standard for hereditary cancer testing.”
About The US Oncology NetworkThe US Oncology
Network is one of the nation’s largest networks of integrated,
community-based oncology practices dedicated to advancing
high-quality, evidence-based cancer care. A physician-led
organization, The US Oncology Network unites like-minded physicians
and clinicians around a common vision of improving patient outcomes
and quality of life. Leveraging healthcare information technology,
shared best practices, evidence-based guidelines and quality
measurements, physicians within The US Oncology Network are
pioneering new ways to achieve this vision. This includes
participation in initiatives that are leading the way toward
value-based care such as the CMS Innovation Center’s Oncology Care
Model. The US Oncology Network is committed to strengthening
patient access to integrated care in local communities across the
nation, including collaboration with a variety of payers, hospitals
and academic institutions. The US Oncology Network is supported by
McKesson Specialty Health, a division of McKesson Corporation
focused on empowering a vibrant and sustainable community patient
care delivery system. For more information, visit
www.usoncology.com.
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
three strategic imperatives: transitioning and expanding its
hereditary cancer testing markets, 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, GeneSight 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 the Network’s selection of
Myriad as its preferred provider laboratory for hereditary
cancer testing; the collaboration between Myriad and the Network to
work together to perform hereditary cancer research through the
Genetic Risk Evaluation and Testing (GREAT) program within The
Network affiliated practices; the anticipated scope, aims and goals
of the GREAT program, including the achievement of unprecedented
insights into the field of oncology; Myriad’s continued investment
in both research and customer service; 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 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, including but not limited to our acquisition of a
healthcare clinic in Germany; 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; and other factors discussed under the heading
“Risk Factors” contained in Item 1A of our Annual report on Form
10-K for the fiscal year ended June 30, 2016, 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.
Myriad Media Contact: Ron Rogers
(908) 285-0248
rrogers@myriad.com
The US Oncology Network Contact: Claire Crye
(281) 825-9927
claire.crye@usoncology.com
Myriad Investor Contact: Scott Gleason
(801) 584-1143
sgleason@myriad.com
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