Full Press Release Details
SALT LAKE CITY, July 09, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced that the United States Patent and Trademark Office has issued a second patent that will strengthen its ability to deliver a tumor-informed, high-definition, molecular residual disease (MRD) assay to market.
U.S. patent no. 12,024,749, entitled “Combinatorial DNA Screening,” covers Myriad’s groundbreaking platform MRD technology, which enables highly sensitive and specific tumor-informed, sequencing-based MRD assays such as Precise MRD. Specifically, the patented method relates to detecting circulating tumor DNA in patient fluid samples, including blood and plasma.
Earlier this year, Myriad Genetics announced its complementary patent granted for the company’s methods of preparing cell-free DNA that also enables high sensitivity tumor informed MRD assays. Together, these two patents support Myriad’s pioneering efforts to establish a proprietary and differentiated MRD assay that tracks thousands of tumor-specific variants identified via genome-scale sequencing technology, making it capable of detecting tumor DNA at lower levels than other products in the market today.
“The issuance of this second patent supporting our MRD assay development showcases another dimension of Myriad’s novel proprietary technology that we believe will help advance Myriad’s position as a precision medicine leader—both via its own Precise MRD offering and via potential licensing opportunities in the MRD space,” said Paul J. Diaz, president and CEO, Myriad Genetics. “We have developed our Precise® MRD assay by leveraging Myriad’s existing technology – laboratory systems, infrastructure, and intellectual property – and by building upon our FDA-approved MyChoice® CDx companion diagnostic and FirstGene platforms. We believe that our unique set of capabilities will enable us to profitably commercialize Precise MRD, advancing oncology care for patients in this emerging and under-penetrated market.”
Myriad continues to develop its Precise MRD assay to meet the needs of cancer patients, academic partners, and biopharma companies. The test is currently undergoing several high-impact studies while also transitioning to the company’s state-of-the-art laboratory facility in Salt Lake City. Myriad has announced several MRD collaborations, including a metastatic breast cancer study with researchers at Memorial Sloan Kettering, a metastatic renal cell carcinoma study with clinicians at The University of Texas MD Anderson Cancer Center, and a prospective pan-cancer study led by researchers at the National Cancer Center Hospital East in Japan. Preliminary results from multiple collaborations are expected to be released this fall.
Precise MRD is available for use in research studies pursued jointly by Myriad and academic or pharmaceutical investigators.
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 granted patent will strengthen the company’s ability to deliver a tumor-informed, high-definition, MRD assay to market, the company believes the issued patent will help advance the company’s position as a precision medicine leader—both via its own Precise MRD offering and via potential licensing opportunities—in the MRD space, the company believes that its unique set of capabilities will enable it to profitably commercialize its Precise MRD offering, advancing oncology care for patients in this emerging under-penetrated market, and the company expects to have preliminary results of several high-impact Precise MRD studies from multiple collaborations released this fall. 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 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.