SALT LAKE CITY, June 24, 2013 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (Nasdaq:MYGN) announced today that it has signed an agreement with TESARO, Inc. (Nasdaq:TSRO) to conduct BRCA1 and BRCA2 mutation testing on patients to be enrolled in two separate Phase III clinical studies with niraparib. Niraparib is a novel, orally active poly (ADP-ribose) polymerase, or PARP, inhibitor.
"We believe this agreement reinforces BRAC Analysis ® as the gold standard companion diagnostic test for this exciting new class of therapeutics," said Peter Meldrum, President and Chief Executive Officer of Myriad Genetics, Inc. "We are excited to be working with TESARO, and this collaboration is yet another example of Myriad's strong commitment to becoming a leader in the field of companion diagnostics."
TESARO plans to conduct two Phase III clinical studies with niraparib. A Phase III study in platinum sensitive, high grade serous ovarian cancer patients is planned to begin enrolling in mid-2013, and a Phase III study in metastatic breast cancer patients who have germline BRCA mutations is planned to initiate in 2H 2013. Under the terms of the agreement, Myriad BRAC Analysis test will be used as a companion diagnostic to identify patients in TESARO's pivotal clinical trials for niraparib.About BRACAnalysis ® BRACAnalysis is a genetic test that confirms the presence of a BRCA1 or BRCA2 gene mutation. BRCA mutations are responsible for the majority of hereditary breast and ovarian cancers. People with a mutation in either the BRCA1 or BRCA2 gene have risks of up to 87% for developing breast cancer and up to 44% for developing ovarian cancer by age 70. Mutation carriers previously diagnosed with cancer also have a significantly increased risk of developing a second primary cancer. Genetic testing, specifically the BRACAnalysis test, identifies patients who have these mutations. About Myriad Genetics Myriad Genetics is 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 portfolio of 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 is making a difference, please visit the Company's website: www.myriad.com . Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, Melaris, TheraGuide, Prezeon, OnDose, Panexia and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. in the United States and foreign countries. MYGN-G
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts