Full Press Release Details
SALT LAKE CITY, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced two key milestones in its strategic partnership with Illumina Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, to advance and support clinical research for gene-based, targeted therapies.
Under the strategic partnership, Myriad and Illumina are working together to advance comprehensive genomic profiling plus homologous recombination deficiency (HRD) testing using the globally distributed Illumina TruSight Oncology 500 (TSO 500) assay, which enables comprehensive genomic profiling by analyzing 523 genes across DNA and RNA variants.
The first milestone achieved qualifies Myriad to conduct prospective clinical trial testing with an investigational use only test based off of Illumina’s in-development IVD solution, TruSight Oncology Comprehensive test (TSO Comp). This positions Myriad to partner with leading pharmaceutical companies and academic institutions to further development of companion diagnostics.
The second milestone involves Myriad’s initiation of its first reproducibility test project to support future regulatory filings for TSO Comp. Myriad now provides support in Illumina’s partnerships with pharmaceutical companies to develop companion diagnostics on TSO Comp.
“These key milestones empower Myriad to accelerate the pace of research and scientific innovation to support the advancement of cancer care for patients,” said Paul Bartel, senior vice president of companion diagnostics, Myriad Genetics. “Through our partnership, we are leveraging Myriad’s MyChoice CDx HRD technology with Illumina’s expertise in comprehensive genomic profiling to broaden clinical research opportunities and drive CDx development for gene-based therapies.”
"Myriad is a key strategic partner in delivering clinically relevant answers with TSO," said Kevin Keegan, vice president and head of Illumina’s Oncology Business Unit. "We are thrilled that Myriad recognizes the importance and value of Illumina’s TruSight Oncology portfolio and shares our excitement for the potential to incorporate HRD testing globally."
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’s partnership with Illumina will broaden clinical research opportunities and drive CDx development for gene-based therapies.. 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.