Business
Myriad Genetics Forms Strategic Partnership with Illumina in Oncology
Note: Paul Diaz, President & CEO of Myriad Genetics will speak today at the 39th Annual JP Morgan Healthcare Conference at 2:50 p.m. EST accessible via a live
About this update from Myriad Genetics, Inc.
[{"type":"text","content":"Note: Paul Diaz, President & CEO of Myriad Genetics will speak today at the 39th Annual JP Morgan Healthcare Conference at 2:50 p.m. EST accessible via a live audio webcast at the following direct link or through the investor section of Myriad’s website at www.myriad.com. SALT LAKE CITY, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced a strategic collaboration with Illumina, Inc. (NASDAQ: ILMN) for Illumina to create a kit-based version of the myChoice® companion diagnostic (CDx) test for international markets. “Increasing access to our products and better serving patients and healthcare providers are critical components of our mission to improve outcomes and our transformation plan to drive growth. The agreement between Myriad and Illumina combines companion diagnostics and next-generation sequencing to advance comprehensive genomic profiling of tumor samples and drive improved outcomes in oncology,” said Paul J. Diaz, president and CEO, Myriad Genetics. “This collaboration reflects our increasing focus on partnering with high-caliber healthcare leaders like Illumina to bring innovative solutions to the oncology market.” Strategic Partnership with Illumina The strategic partnership with Myriad and Illumina consists of a time-limited exclusive agreement for Illumina to provide a kit-based version of the myChoice CDx test for international markets. Illumina will leverage its sequencing instrument install base and knowledge from increasing market adoption of its TruSight™ Oncology 500 next-generation sequencing assay to develop and commercialize distributed kits globally for the assessment of homologous recombination deficiency (HRD) along with other proprietary biomarkers while Myriad expands access and extends the reach of myChoice® CDx through Myriad’s services offering. “Illumina is committed to offering innovative diagnostic tools that power precision oncology,” said Dr. Phil Febbo, M.D., Chief Medical Officer of Illumina. “The growing use of PARP inhibitor therapeutics to broader populations of patients with HRD is paramount in our work with Myriad Genetics as the future of healthcare looks to molecular-based testing to improve patient outcomes through standardized, best in class testing with myChoice CDx.” The myChoice CDx offering –...