Myriad Genetics Announces Reorganization of European Operations and Sale of EndoPredict Business
2024年5月7日 - 10:00PM
Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing
and precision medicine, today announced the reorganization of its
European operations to better align company resources to its
domestic opportunities while continuing to serve key biopharma
partners and patients outside the United States.
As part of the reorganization, Myriad signed a definitive
agreement to sell its EndoPredict® business to Eurobio Scientific,
a leading French group in in vitro medical diagnostics
and life sciences. Myriad will also license Eurobio the right to
sell Prolaris in vitro diagnostic kits outside the U.S.
Myriad will license the rights to continue to produce and sell
EndoPredict, as a Laboratory Developed Test (LDT), in the U.S. as
part of Precise Oncology Solutions, its comprehensive suite of
precision medicine tools for breast, prostate, ovarian, pancreatic,
endometrial, and colon cancer.
“The change in our international strategy is part of our
continued effort to accelerate profitable growth while supporting
our biopharma partners in the most efficient manner,” said Paul J.
Diaz, president and CEO of Myriad Genetics. “By divesting the
EndoPredict business to Eurobio, we believe EndoPredict and our
European teammates will have more opportunities to grow given
Eurobio’s strength and presence in the European market. This will
also allow Myriad to be in a better position to grow our other
global businesses more efficiently through strategic partnerships,
including licensing and distribution agreements.”
The deal is subject to customary closing conditions, and Myriad
expects the transaction to close in the second or third quarter of
2024.
About EndoPredict Breast Cancer
Prognostic TestEndoPredict is a prognostic test that
predicts patient risk of breast cancer recurrence to help identify
who can consider safely forgoing chemotherapy.
About Prolaris Prostate Cancer Prognostic
TestProlaris is a molecular diagnostic test that provides
personalized information about the aggressiveness of a patient's
prostate cancer.
About Myriad Genetics Myriad Genetics is a
leading genetic testing and precision medicine company dedicated to
advancing health and well-being for all. Myriad develops and offers
genetic tests that help assess the risk of developing disease or
disease progression and guide treatment decisions across medical
specialties where genetic insights can significantly improve
patient care and lower healthcare costs. For more information,
visit www.myriad.com.
Safe Harbor Statement This press
release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995, including
that the company will license Eurobio the right to sell Prolaris in
vitro diagnostic kits outside the U.S., the company will license
the rights to continue to produce and sell EndoPredict as a LDT in
the U.S., and the company expects the transaction to close in the
second or third quarter of 2024. These “forward-looking statements”
are management’s expectations of future events as of the date
hereof and are subject to known and unknown risks and uncertainties
that could cause actual results, conditions, and events to differ
materially and adversely from those anticipated. Such risks and
uncertainties include, but are not limited to, the risk that a
condition to closing of the proposed transaction may not be
satisfied; that either party may terminate the definitive agreement
or that the closing of the proposed transaction may be delayed or
not occur at all; potential adverse reactions or changes to
business or employee relationships, including those resulting from
the announcement or consummation of the proposed transaction; and
such other risks described in the company’s filings with the U.S.
Securities and Exchange Commission, including the company’s Annual
Report on Form 10-K filed on February 28, 2024, as well as any
updates to those risk factors filed from time to time in the
company’s Quarterly Reports on Form 10-Q or Current Reports on Form
8-K. Myriad is not under any obligation, and it expressly disclaims
any obligation, to update or alter any forward-looking statements,
whether as a result of new information, future events or otherwise
except as required by law.
Investor Contact Matt Scalo (801)
584-3532 IR@myriad.com
Media Contact Glenn Farrell (385)
318-3718 PR@myriad.com
Myriad Genetics (NASDAQ:MYGN)
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