DGAP-News: Myriad Genetics, Inc. /
Myriad Genetics and Sividon Diagnostics Announce Exclusive
Co-Marketing Agreement for EndoPredict(R) Outside of the United States
20.01.2014 / 08:00
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ZURICH, Switzerland and COLOGNE, Germany, 2014-01-20 08:00 CET (GLOBE NEWSWIRE)
--
Myriad Genetics GmbH and Sividon Diagnostics GmbH today announced that they
have entered into an exclusive co-marketing agreement, covering the sales and
marketing of Sividon's EndoPredict test outside of the United States.
EndoPredict is a second-generation, multigene prognostic test kit for patients
diagnosed with breast cancer.
Under the agreement, Myriad will receive comprehensive marketing rights to
distribute and sell EndoPredict, including in high-growth markets in Europe.
The agreement will leverage Myriad's 45-person international commercial team
and will significantly increase the number of medical specialists and sales
professionals supporting EndoPredict. Specific terms of the deal were not
disclosed.
EndoPredict provides physicians with information to devise personalized
treatment plans for their breast cancer patients. The EndoPredict test kit
format is an ideal platform for use by clinical pathologists, who desire to
conduct testing within their own laboratories. In contrast to older multi-gene
tests, EndoPredict detects the likelihood of late metastases (i.e., metastasis
formation after more than five years) and can thus guide treatment decisions
for chemotherapy as well as extended anti-hormonal therapy. Accordingly,
therapy decisions backed by EndoPredict confer a high level of diagnostic
safety. EndoPredict was shown to accurately predict cancer-specific disease
progression and metastasis in multiple clinical outcome studies with more than
2,200 patients.
'Myriad has a significant opportunity to leverage our international presence,
and we are pleased to be partnering with Sividon to make EndoPredict even more
widely available to patients in Europe and worldwide,' said Gary King,
Executive Vice President, International Operations, Myriad Genetics. 'We are
committed to contributing to the health of people in Europe through a strong
sales and marketing organization that provides enhanced access to life-saving
products for patients and cost effective solutions for healthcare providers.
Myriad's team of field specialists will support EndoPredict's current customers
in liaison with Sividon's medical expert team, thus providing additional levels
of support and contact.'
'Sividon's EndoPredict, backed by compelling evidence from clinical studies
with thousands of patients combined with Myriad's strong commercial capability
and coverage in many key countries creates an outstanding partnership,' said
Dr. Christoph Petry, CEO of Sividon Diagnostics. 'Breast cancer affects the
life of more than 388,000 women per year in Europe, and EndoPredict will help
to significantly improve their cancer treatment. We are delighted to partner
with Myriad to help save and improve the lives of more women with breast
cancer.'
About Myriad Genetics GmbH
Myriad Genetics GmbH is based in Zurich, Switzerland and is the international
subsidiary of Myriad Genetics Inc., a leading molecular diagnostic company
dedicated to making a difference in patients' 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 molecular diagnostic tests are based on an
understanding of the role genes play in human disease and were developed with a
commitment to improving an individual's decision making process for monitoring
and treating disease. Myriad is focused on strategic directives to introduce
new products, including companion diagnostics, as well as expanding
internationally. For more information on how Myriad Genetics GmbH is making a
difference, please visit the Company's website: www.myriad.ch. Myriad and the
Myriad logo are trademarks or registered trademarks of Myriad Genetics, Inc. in
the United States and worldwide. MYGN-F, MYGN-G
About Sividon
Sividon Diagnostics GmbH was founded in 2010 as a management buyout from
Siemens Healthcare Diagnostics in Cologne, Germany. Sividon is dedicated to
develop modern methods for the molecular pathology laboratory to help improve
the quality of care for cancer patients. Sividon's first product, EndoPredict,
has been introduced into the market in 2011 and allows for a more
individualized therapy management in breast cancer. For more information on
Sividon please visit the Sividon's website at www.sividon.com. Sividon, the
Sividon logo and EndoPredict are registered trademarks of Sividon Diagnostics
GmbH in Germany and other countries.
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 EndoPredict test and Myriad's partnering with Sividon to market
the EndoPredict test in Europe and worldwide; and the Company's strategic
directives under the caption 'About Myriad Genetics.' These 'forward-looking
statements' are management's present 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 described in the forward-looking
statements. These risks 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; risks related to changes in the governmental or private insurers
reimbursement levels for our tests; 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
tests and any future tests are terminated or cannot be maintained on
satisfactory terms; risks related to delays or other problems with operating
our laboratory testing facilities; risks related to public concern over our
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 the healthcare system or healthcare
payment systems; risks related to our ability to obtain new corporate
collaborations or licenses 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
license or acquire; risks related to increased competition and the development
of new competing tests and services; the risk that we or our licensors may be
unable to protect or that third parties will infringe the proprietary
technologies underlying our tests; the risk of patent-infringement claims or
challenges to the validity of our patents; risks related to changes in
intellectual property laws covering our molecular diagnostic tests and
companion diagnostic services and patents or enforcement in the United States
and foreign countries, such as the Supreme Court decision in the lawsuit
brought against us by the Association for Molecular Pathology et al; 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 of 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.
CONTACT: Media Contacts:Ron Rogers(801) 584-3065rrogers@myriad.comEsther
Linnenberg+49-221-66956170linnenberg@sividon.comInvestor Contact:Scott
Gleason(801) 584-1143sgleason@myriad.com
News Source: NASDAQ OMX
End of Corporate News
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Language: English
Company: Myriad Genetics, Inc.
United States
ISIN: US62855J1043
End of News DGAP News-Service
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248572 20.01.2014
DGAP-News: Myriad Genetics and Sividon Diagnostics Announce Exclusive Co-Marketing Agreement for EndoPredict(R) Outside of the United States
| Source: EQS Group AG