SALT LAKE CITY, Jan. 18, 2012 (GLOBE NEWSWIRE) -- Myriad
Genetics, Inc. (Nasdaq:MYGN) today announced it has obtained
an exclusive license to intellectual property covering the
analysis of the RAD51C gene for risk of hereditary breast and
ovarian cancer. In several studies, mutations in the RAD51C
gene have been identified and associated with an increased
risk for hereditary breast and ovarian cancer.
"As part of our strategy, we are committed to investing
in the development of new transformative tests to improve the
quality of patients' lives," said Mark Capone,
President of Myriad Genetic Laboratories, Inc. "This
intellectual property will enhance our ability to provide
patients and health care providers important information on a
patient's predisposition to hereditary breast and
ovarian cancer."
RAD51C was identified initially as a susceptibility gene for
hereditary breast and ovarian cancer by members of the German
Consortium for Hereditary Breast and Ovarian cancers in
collaboration with pediatric hematologists and basic
scientists predominantly located at the universities of
Cologne, Dusseldorf and Munich. As reported in theApril 22,
2010 issue of Nature Genetics, mutations in the RAD51C gene
were found exclusively within 480 pedigrees with a family
history of breast and ovarian cancers, but not in 2,912
healthy individuals. Six pathogenic germ-line mutations
within the 480 pedigrees resulted in a mutation prevalence
rate of 1.3% in this study population. These findings were
confirmed by a study published in theMay 22,
2011 issue of Breast Cancer Research and Treatment. This
study analyzed the status of the RAD51C gene in Finnish
and
Swedish families with a history of breast and ovarian cancer
and found a mutation prevalence rate of 2.9%.
Through this agreement, Myriad has obtained an exclusive,
world-wide license, with co-exclusivity in Germany, to
provide commercial testing for RAD51C.
Hereditary Breast and Ovarian Cancer (HBOC) is an inherited condition that causes an increased risk of developing breast and/or ovarian cancer. Today, the majority of hereditary breast and ovarian cancer is thought to be due to an alteration or gene mutation in either the BRCA1 or BRCA2 genes. A woman who has such a mutation has, on average, up to an 86% lifetime risk of developing breast cancer and on average, up to a 44% risk of developing ovarian cancer. As published in the New England Journal of Medicine, researchers have shown that pre-symptomatic individuals who carry gene mutations can lower their risk of developing ovarian cancer by approximately 60% with appropriate preventive therapies.
About Myriad Genetics
Myriad Genetics, Inc. (Nasdaq:MYGN) is a leading molecular
diagnostic company dedicated to developing and marketing
transformative tests to assess a person's risk of
developing disease, guide treatment decisions and assess a
patient's risk of disease progression and disease
recurrence. Myriad's portfolio of nine molecular
diagnostic tests are based on an understanding of the role
genes play in human disease and were developed with a focus
on improving an individual's decision making process for
monitoring and treating disease. With fiscal year 2011 annual
revenue of ove$r 400 million and more than
1,000 employees, Myriad is working on strategic directives,
including new product introductions, companion diagnostics,
and international expansion, to take advantage of significant
growth opportunities. 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. MYGN-G
This press release contains "forward-looking
statements" within the meaning of the Private Securities
Litigation Reform Act of
1995, including statements relating to RAD51C increasing a
patient's risk for hereditary breast and ovarian cancer;
the role mutations in the RAD51C gene have with increased
risk for hereditary breast and ovarian cancer; the role this
acquired intellectual property will have in our strategy of
investing in the development of new transformative tests to
improve the quality
of patients' lives; and our enhanced ability to provide
patients and health care providers important information on a
patient's predisposition to hereditary breast and
ovarian cancer with this acquired intellectual property.
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.
CONTACT: Rebecca Chambers
Director, Investor Relations and Corporate Communications
(801) 584-1143 rchambers@myriad.com
Source: Myriad Genetics, Inc. News Provided by Acquire Media
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