SALT LAKE CITY, UT, Oct 07, 2008 (MARKET WIRE via COMTEX News Network) -- Myriad Genetics, Inc. (NASDAQ: MYGN) (www.myriad.com), announced today that it has acquired the exclusive North American license to specific application of novel proprietary technology used to perform pharmacokinetic analysis of therapeutic drugs in patients, from Saladax Biomedical, Inc. The technology allows a physician to adjust a patient's dose of chemotherapy to provide optimal patient exposure to the chemotherapy to help improve efficacy and minimize toxicity during the course of treatment.
Therapeutic drug management has long been used in infectious disease, transplantation and neurological disease treatment to improve the effectiveness and safety of drugs. Advances in personalized medicine have now made possible expansion of the same principle to the treatment of cancer patients, so that they can benefit from a reduction in toxicity and an increase the efficacy of the chemotherapy.
"We are very pleased to be working with Saladax in the commercialization of this exciting technology," said Gregory Critchfield, M.D., President of Myriad Genetic Laboratories, Inc. "This pioneering effort will not only benefit patients, but will complement our current product portfolio and will be readily sold through our existing 150-person oncology salesforce."
Myriad Genetics, Inc. is a healthcare company focused on the development and marketing of novel therapeutic and molecular diagnostic products. Myriad's news and other information are available on the Company's Web site at www.myriad.com.
Saladax Biomedical is pioneering the development of novel Personalized Chemotherapy Management(TM) (PCM) immunoassays that enable routine blood-level monitoring of anti-cancer drugs. More information about Saladax and PCM is available at www.saladax.com
PCM is a trademark of Saladax Biomedical, Inc. in the United States.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the ability of the technology to allow a physician to adjust a patient's dose of chemotherapy to provide optimal patient exposure to the chemotherapy to help improve efficacy and minimize toxicity during the course of treatment; and the extent to which our efforts will benefit patients and will complement our current product portfolio and will be readily sold through our existing 150-person oncology salesforce. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include, but are not limited to, our inability to further identify, develop and achieve commercial success for new products and technologies; our ability to discover drugs that are safer and more efficacious than our competitors; our ability to develop additional molecular diagnostic products that help assess which patients are subject to greater risk of developing diseases and who would therefore benefit from new preventive therapies; the possibility of delays in the research and development necessary to select drug development candidates and delays in clinical trials; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully finance and secure regulatory approval of and market our drug candidates, or that clinical trials will not be completed on the timelines we have estimated; uncertainties about our ability to obtain new corporate collaborations and acquire new technologies on satisfactory terms, if at all; the development of competing products and services; our ability to protect our proprietary technologies; patent-infringement claims; 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 in our Annual Report on Form 10-K for the year ended June 30, 2008, which has been 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: William A. Hockett Exec. VP, Corporate Communications (801) 584-3600 Email: Email Contact
SOURCE: Myriad Genetics
Copyright 2008 Market Wire, All rights reserved.
News Provided by COMTEX