Myriad Genetics Expands Partnership With Illumina to Enhance Genomic Profiling for Cancer Detection
Myriad Genetics Expands Partnership With Illumina to Enhance Genomic Profiling for Cancer Detection
Myriad Genetics updates its agreement with Illumina, integrating GIS for broader cancer diagnostics using TruSight Oncology 500 v2.
Quiver AI Summary
Myriad Genetics has announced an update to its agreement with Illumina, which will allow the inclusion of its Genomic Instability Score (GIS) for Homologous Recombination Deficiency (HRD) in all samples analyzed via Illumina's TruSight Oncology 500 v2 assay. This change broadens the availability of GIS results across various cancer types, enhancing Myriad's oncology product portfolio. The collaboration aims to combine Myriad's HRD technology with Illumina's expertise to create advanced genomic profiling tools and expand clinical research opportunities, particularly for HRD-based therapies. Myriad's MyChoice CDx test, which detects tumors with homologous recombination deficiencies, will be further supported by this strategic partnership, which has evolved since its initial announcement in January 2021.
Potential Positives
- Expansion of collaboration with Illumina allows for the inclusion of Myriad's Genomic Instability Score in all samples analyzed with the TruSight Oncology 500 v2 assay, enhancing diagnostic capabilities.
- Broader availability of GIS results for various cancer types could strengthen Myriad's position in the oncology market and attract more healthcare providers to use their technology.
- The integration of Myriad's HRD technology with Illumina's expertise may boost clinical research opportunities and drive development of companion diagnostics, potentially increasing revenue streams.
Potential Negatives
- The press release contains several forward-looking statements that are subject to known and unknown risks and uncertainties which could result in actual outcomes differing materially from expectations.
- Myriad's reliance on the collaboration with Illumina for expanding its technology and product offerings could expose the company to risks related to partnership dependencies and potential changes in the collaboration's terms or effectiveness.
- The announcement primarily highlights the technical aspects of the collaboration but does not provide clear insights into the commercial implications or expected financial benefits, leaving a gap in transparency regarding the partnership's potential impact on revenue and market position.
FAQ
What is the latest update from Myriad Genetics regarding Illumina?
Myriad Genetics has updated its agreement with Illumina to include its Genomic Instability Score in all samples analyzed with Illumina's TruSight Oncology 500 v2.
How will the partnership with Illumina affect cancer testing?
This partnership will broaden the range of cancer types that can receive Genomic Instability Score results and their homologous recombination deficiency status.
What technologies are combined in Myriad's tests?
Myriad's MyChoice CDx test combines tumor sequencing of BRCA1 and BRCA2 with proprietary technologies assessing loss of heterozygosity, telomeric allelic imbalance, and large-scale state transitions.
What is the significance of the Genomic Instability Score (GIS)?
The GIS helps identify tumors deficient in homologous recombination, indicating higher susceptibility to certain cancer treatments like platinum drugs and PARP inhibitors.
How does this collaboration enhance Myriad's oncology product portfolio?
The inclusion of GIS in Myriad's Precise Tumor clinical reports will strengthen its oncology product offerings, enhancing comprehensive genomic profiling capabilities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
SALT LAKE CITY, Nov. 20, 2024 (GLOBE NEWSWIRE) --
Myriad Genetics, Inc
. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, announced updates to its agreement with Illumina Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies.
Myriad's gold-standard Genomic Instability Score (GIS) to determine Homologous Recombination Deficiency (HRD) will be reported for all samples analyzed with Illumina's updated research assay, TruSight Oncology 500 v2 (TSO 500 v2). Previously, GIS to determine HRD was only available as a separate product. As a result, a broad array of cancer types will receive GIS results and their HRD status.
"We are pleased to expand our collaboration with Illumina and combine the two companies' technologies to create what we believe is the most advanced and complete gene panel to enable comprehensive genomic profiling," said Patrick Burke, PhD, EVP of Strategy and Innovation, Myriad Genetics.
Combining Myriad's HRD technology, which is used in MyChoice
CDx tumor-based test, with Illumina's expertise in comprehensive genomic profiling will enable Myriad to broaden clinical research opportunities and potentially drive CDx development for HRD-based therapies across multiple potential tumor types. Broad availability of data and the Myriad GIS platform may help drive disease-site indication expansion and potential companion diagnostic product development beyond ovarian cancer.
"Inclusion of GIS in all Myriad's
Precise Tumor
clinical reports will strengthen the company's oncology product portfolio," said Burke. "Precise Tumor is a pan-cancer solid tumor comprehensive genomic profiling test, leveraging Illumina's current TSO 500 technology."
Myriad announced the strategic partnership with Illumina in
January 2021
and has expanded its relationship both
geographically
and
technologically
since that time.
About Myriad's MyChoice CDx HRD Companion Diagnostic Test
Myriad's MyChoice CDx is the most comprehensive homologous recombination deficiency (HRD) test, enabling physicians to identify patients with tumors that have lost the ability to repair double-stranded DNA breaks, resulting in increased susceptibility to DNA-damaging drugs such as platinum drugs or PARP inhibitors. The
MyChoice test
comprises tumor sequencing of the
BRCA1
and
BRCA2
genes and a composite of three proprietary technologies (loss of heterozygosity, telomeric allelic imbalance and large-scale state transitions).
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
.
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 company's Genomic Instability Score (GIS) will be reported for all samples analyzed with TSO 500 v2, a broader array of cancer types will receive GIS results and their HRD status, the company's agreement with Illumina will expand world-wide access to the company's technology and better position the company's GIS as a potential companion diagnostic across multiple potential tumor types, combining the company's HRD technology with Illumina's expertise in comprehensive genomic profiling will enable the company to broaden clinical research opportunities and potentially drive CDx development for HRD-based therapies across multiple potential tumor types, broad availability of data and the company's GIS platform may help drive disease-site indication expansion and potential companion diagnostic product development beyond ovarian cancer, and the inclusion of GIS in all Myriad's Precise Tumor clinical reports will strengthen the company's oncology product portfolio. 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.
Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Glenn Farrell
(385) 318-3718
PR@myriad.com
