SALT LAKE CITY and LEXINGTON, Mass., April 17, 2013 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (Nasdaq:MYGN) and RainDance Technologies, Inc. today announced that they have entered into a commercial agreement whereby Myriad will adopt RainDance's ThunderStorm™ Target Enrichment System for Myriad's next-generation sequencing based Hereditary Cancer Panel (HCP) test. As part of this agreement, Myriad and RainDance have signed a multi-year supply agreement where RainDance will provide Myriad with ThunderStorm systems, reagents, gene panels, and consumables.
"We are excited to announce this strategic relationship with RainDance Technologies as it marks an important milestone in our preparation for the future launch of our next-generation HCP test," said Mark Capone, President of Myriad Genetics Laboratories. "The ThunderStorm System offers Myriad unparalleled genomic coverage, the ability to detect large gene rearrangements, workflow benefits, and a favorable cost profile, all of which have been critical in overcoming the challenges associated with creating content- rich next-generation sequencing gene panels suitable for a high throughput commercial laboratory."
"Myriad's selection of our ThunderStorm System for their HCP test, one of the most significant commercial opportunities in their product portfolio, validates our product differentiation and innovative technology with one of the most exacting clinical sequencing customers in the world. The Myriad relationship builds on our proven track record with more than 70 major genetic and translational research labs worldwide," said Roopom Banerjee, President and CEO of RainDance. "With our proprietary platform, Myriad is establishing a new industry standard for next-generation sequencing of cancer and inherited disease."RainDance's ThunderStorm System utilizes a proprietary single-molecule droplet technology for sequence enrichment and enables customers to target up to 20,000 regions of the genome using any of the commercially available next-generation sequencing platforms. Myriad evaluated several sequence enrichment technologies for its planned HCP launch and the ThunderStorm System from RainDance represented the most automated and affordable solution for large volume genetic testing.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV