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SALT LAKE CITY, Feb 01, 2005 /PRNewswire-FirstCall via COMTEX/ -- Myriad Genetics, Inc. (Nasdaq: MYGN), announced today that the European Patent Office has upheld two patents relating to the Company's BRACAnalysis® test for breast and ovarian cancer.
These patents, EP705902 and EP705903, have now been maintained in force in Europe, and join patent EP1126034, in forming Myriad's foundation of intellectual property rights.
Patent EP705902 relates to the composition of a specific portion of the BRCA1 gene. EP705903 relates to a genetic probe for the detection of the single most common mutation that occurs in BRCA1 in the Ashkenazi Jewish population. Myriad's third European patent, EP1126034, includes coding sequences of the BRCA1 gene and their use in diagnosing mutations in the gene. Myriad holds exclusive worldwide license rights to these patents.
About BRACAnalysis®
Myriad discovered the BRCA1 gene in 1994 and the BRCA2 gene in 1995. The Company developed a highly sophisticated laboratory process to analyze the genes for mutations and made it available under the tradename BRACAnalysis. To ensure accuracy of the results, a complete sequence analysis of BRCA1 and BRCA2 is performed of approximately 37,000 bases, requiring over 800 individual steps that are controlled by trained technicians with an interactive database and two to three weeks processing to complete each specimen submitted. In addition, analysis of large genomic rearrangements that occur in high prevalence in European populations is also performed. Since development of the analysis, more than 100,000 women have been tested for their risk of hereditary breast and ovarian cancer. During this period, Myriad has been pleased to support academic and clinical research with the BRCA1 and BRCA2 genes through a variety of programs. A search of the PubMed medical literature database returns over 4,000 peer-reviewed articles published on aspects of one or both genes.
Myriad Genetics, Inc. is a biopharmaceutical company focused on the development of novel healthcare products. The Company develops and markets predictive medicine products, and is developing and intends to market therapeutic products. Myriad's news and other information are available on the Company's Web site at www.myriad.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectation and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth or implied by forward-looking statements. These include, but are not limited to, uncertainties as to the extent of future government regulation of Myriad Genetics' business; the ability of the Company to protect its intellectual property technologies and enforce its patent claims, administrative regulation of its patents, including appeals and patent infringement claims; uncertainties as to whether Myriad Genetics and its collaborators will be successful in developing, and obtaining regulatory approval for, and commercial acceptance of, diagnostic products and therapeutic compounds; the risk that markets will not exist for diagnostic products or therapeutic compounds that Myriad Genetics develops or if such markets exist, that Myriad Genetics will not be able to sell diagnostic products or compounds, which it develops, at acceptable prices; and the risk that the Company will not be able to sustain revenue growth for its predictive medicine business and products. These and other risks are identified in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2004. All information in this press release is as of February 1, 2005, and Myriad undertakes no duty to update this information unless required by law.
SOURCE Myriad Genetics, Inc.
William A. Hockett, Vice President of Corporate Communications of Myriad Genetics, Inc., +1-801-584-3600, bhockett@myriad.com