Thu July 26, 2012 4:15 PM | about: MYGN NEWS PROVIDED BY:
GlobeNewswire
SALT LAKE CITY, July 26, 2012 (GLOBE NEWSWIRE) Myriad Genetics, Inc. (MYGN) today announced that it has signed an agreement with Pharma Mar, a leader in the development of marine-derived drugs. Under the agreement, Myriad will conduct BRCA 1 and BRCA 2 testing on patients to be enrolled in a Phase II clinical study of PM1183, a novel drug candidate which induces double-stranded DNA breaks to cause cell death.
"PM1183 is an exciting compound, and we are extremely pleased to be working with Pharma Mar on this project," said Peter Meldrum, President and Chief Executive Officer of Myriad Genetics, Inc. "We believe this agreement, as well as our many other companion diagnostic projects for DNA-damaging agents, demonstrates the importance of a patient's BRCA status in identifying potential responders to this class of drugs."
Under the agreement, Myriad will assess the BRCA status in patients who respond to PM1183. Myriad has entered into similar agreements with Abbott Pharmaceuticals, Astra Zeneca, BioMarin Pharmaceuticals and Cephalon to provide companion diagnostic testing with the BRACAnalysis® test for clinical trial enrollment.
About BRACAnalysis®
BRACAnalysis is a molecular diagnostic test developed by Myriad Genetics which analyzes the BRCA1 and BRCA2 genes to assess a woman's risk for developing breast and ovarian cancer and guide treatment decisions for women with hereditary breast and ovarian cancer. A woman who tests positive with the BRACAnalysis test has, on average, up to an 86% risk of developing breast cancer during her lifetime and up to a 44% risk of developing ovarian cancer. BRACAnalysis provides important information that the Company believes will help patients and their physicians make better informed lifestyle, surveillance, and preventive medication and treatment decisions. For more information about BRACAnalysis, please call 1-800-4-MYRIAD, or visit www.myriad.com .