Myriad Genetics Completes Acquisition of Precise Tumor, Precise Liquid and Laboratory from Intermountain Precision Genomics
February 01 2024 - 8:25AM
Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing
and precision medicine, today announced it has completed the
acquisition from Intermountain Health of select assets from its
Intermountain Precision Genomics (IPG) laboratory business,
including the Precise™ Tumor Test, the Precise Liquid Test, and
IPG’s CLIA-certified laboratory in St. George, Utah.
Myriad’s Precise Tumor Test, which was also offered by IPG as
TheraMap®: Solid Tumor, analyzes a patient’s tumor DNA to discover
and target important variants within tumors. Myriad will operate
TheraMap: Solid Tumor solely as Precise Tumor moving forward. The
500+ gene panel looks at both DNA and RNA to match patients with
advanced solid tumors to the right therapy as well as identifying
eligibility for clinical trials.
Precise Liquid, which is expected to launch later this year,
will provide convenient comprehensive genomic profiling results
from a blood draw. IPG has completed all validation studies to
support the local coverage determination (LCD) for Precise Liquid
and submitted clinical evidence of test performance in December
2023 for Medicare reimbursement.
The acquisition enables Myriad to more effectively scale and
grow its tumor profiling offerings to complement its oncology
portfolio of hereditary cancer and companion diagnostic testing
options.
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 expects to operate TheraMap: Solid Tumor as Precise
Tumor moving forward, and that Precise Liquid is expected to launch
later this year. 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 factors
include those 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 March 1, 2023, 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 ContactMatt Scalo(801)
584-3532IR@myriad.com
Media ContactGlenn Farrell(385)
318-3718PR@myriad.com
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