Intermountain Healthcare and Myriad Genetics Enter Into Research Collaboration Agreement
SALT LAKE CITY, May 21, 2012 /PRNewswire/ — Intermountain Healthcare and Myriad Genetics today announced they have signed a collaborative research agreement. The purpose of this agreement is to perform research and validation studies on transformative molecular diagnostic tests being developed by Myriad in an effort to improve the care and treatments for patients at Intermountain and around the world. This collaboration highlights the shared purpose of Myriad and Intermountain in improving outcomes and the quality of life for patients.
The first project under this collaboration, PRO 008, is designed to further expand the utility of the Prolaris test by analyzing biopsy samples of 200 patients diagnosed with prostate cancer. This study will assess the ability of the Prolaris test to predict which men are at a heightened risk of biochemical recurrence and therefore should be given more aggressive therapy for their disease. The goal of this, and Myriad’s other Prolaris studies underway in multiple centers in the United States and Europe, is to demonstrate the prognostic ability of the Prolaris test in assessing a patient’s risk of biochemical recurrence of disease and death from disease.
“We are thrilled to be partnering with Myriad to further research across a number of diseases in an effort to improve patient care,” said Brent Wallace, MD, Intermountain’s Chief Medical Officer. “We look forward to embarking on our prostate cancer collaboration with Myriad and hope the findings from this study will help define the clinical benefit of the Prolaris test. This will assist in helping men diagnosed with prostate cancer to understand the aggressiveness of their disease and make better informed decisions about appropriate treatment.”
“Intermountain is committed to improving patient outcomes which is in perfect alignment with the core mission of Myriad,” said Peter Meldrum, President and Chief Executive Officer of Myriad Genetics. “This research collaboration will have great potential to help patients by furthering research on molecular diagnostic tests which can assist healthcare providers to effectively guide treatment decisions and determine the risk of disease progression and recurrence.”
About Intermountain Healthcare
Intermountain Healthcare, a nonprofit healthcare system based in Salt Lake City, Utah, serves the healthcare needs of Utah and southeastern Idaho residents. Its mission is to provide clinically excellent medical care at affordable rates in a healing environment. For more information visit intermountainhealthcare.org
About Myriad Genetics
Myriad Genetics, Inc., an internationally recognized leader in molecular diagnostics, is dedicated to making a difference in patient’s 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 portfolio of 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, BRACAnalysis, Colaris, Colaris AP, Melaris, TheraGuide, Prezeon, OnDose, Panexia and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. in the United States and foreign countries.
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 designs, goals and anticipated outcomes of the research collaboration between the Company and Intermountain Healthcare; 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 set forth in or implied by forward-looking statements. These risks and uncertainties 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; the risk that we may be unable to expand into new markets outside of the United States; 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 and any future products are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with manufacturing our products or 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 healthcare payment systems; risks related to our ability to obtain new corporate collaborations 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 acquire; the development of competing tests and services; the risk that we or our licensors may be unable to protect the proprietary technologies underlying our tests; the risk of patent-infringement and invalidity claims or challenges of our patents; 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 in 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.
SOURCE Myriad Genetics, Inc.; Intermountain Healthcare