Salt Lake City, UT (PRWEB) May 09, 2012
Myriad Genetics (NASDAQ: MYGN) announced today that Myriad RBM, a wholly owned subsidiary of Myriad Genetics, has launched OncologyMAP® v. 2.0, a powerful research tool developed with funding and direction from the National Cancer Institute and the Cancer Prevention Research Institute of Texas. OncologyMAP® v. 2.0 is a comprehensive, cost-effective testing service that builds on the success of the original OncologyMAP® service by increasing the scope and diversity of biomarker analysis for drug re-tasking, indication expansion, and patient stratification studies and provides researchers with the ability to accelerate the pace of discovery, validation, and translation of cancer biomarkers into clinically useful tests. “Researchers have made great strides in understanding the relationship between protein biomarkers and cancer. Our goal has been to build on these isolated discoveries by creating a comprehensive and useful quantitative test that can be utilized to develop and validate new therapeutics,” said Craig Benson, Myriad RBM President. “Using data provided by this service, researchers may shorten the time and cost of development while also improving the safety and efficacy of the compounds in their pipeline.”
OncologyMAP v. 2.0 is based on Myriad RBM’s proprietary Multi-Analyte Profiling (MAP) platform that quantifies blood-based biomarkers representing dozens of important biological pathways. Myriad RBM’s multiplexing process increases efficiency while providing excellent assay precision. This updated product includes an additional 30 biomarkers to quantitatively measure 130 cancer-related proteins. Several of the new biomarkers play a role in angiogenesis and tumor growth, such as Cadherin-1, Cystatin A & B, and Midkine; whereas other biomarkers have been shown to be cancer type-specific, such as Beta-microseminoprotein, CECAM 1 & 6, CA-9, and Pancreatic Secretory Trypsin Inhibitor.
OncologyMAP v. 2.0 is validated to clinical laboratory standards, allowing biomarker pattern discoveries made during the basic research stages to be reliably extended into clinical trials. The use of sensitive, reproducible biomarker patterns as objective measures of disease progression, drug efficacy, and toxicity can facilitate decision-making and avoid the high costs associated with late-stage drug attrition.
About the Collaboration
These assays were developed with funding from the Cancer Prevention and Research Institute of Texas (CPRIT) and the Small Business Innovation Research program (SBIR) of the National Cancer Institute (NCI). The NCI funding is under Contract Number HHSN261200700037C, and, in collaboration with NCI’s Clinical Proteomic Technologies for Cancer Initiative’s Antibody Characterization Program, Contract Number HHSN261200800045C. This release and any related content is solely the responsibility of the authors and does not necessarily represent the official views of the National Cancer Institute or the National Institutes of Health.
About Myriad RBM
Myriad RBM is a leader in the field of companion diagnostics discovery services. With the industry’s largest menu of quantitative immunoassays, Myriad RBM provides services for the identification and quantification of protein biomarkers used in research, diagnostic and drug development programs. Myriad RBM partners with the world’s leading pharmaceutical and biotechnology companies to discover and validate novel biomarkers and biomarker patterns that help determine drug efficacy, safety and response. Myriad RBM’s laboratory is CLIA certified and supports Good Laboratory Practices (GLP) studies. For more information on Myriad RBM’s innovative, proprietary technology and service offerings, please visit the company’s website at: http://www.myriadrbm.com
About Myriad Genetics
Myriad Genetics, Inc. is a leading molecular diagnostic company 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 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 over $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: http://www.myriad.com.
Myriad, the Myriad logo, Myriad RBM, 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
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 launch of OncologyMAP v 2.0; and the Company’s strategic directives under the caption “About Myriad Genetics” and “About Myriad RBM”. 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.