Myriad Genetics and Sividon Diagnostics Announce Exclusive Co-Marketing Agreement for EndoPredict(R) Outside of the United States
ZURICH, Switzerland and COLOGNE, Germany, Jan. 20, 2014 (GLOBE NEWSWIRE) --
Myriad Genetics GmbH and Sividon Diagnostics GmbH today announced that they have
entered into an exclusive co-marketing agreement, covering the sales and
marketing of Sividon's EndoPredict test outside of the United States.
EndoPredict is a second-generation, multigene prognostic test kit for patients
diagnosed with breast cancer.
Under the agreement, Myriad will receive comprehensive marketing rights to
distribute and sell EndoPredict, including in high-growth markets in Europe. The
agreement will leverage Myriad's 45-person international commercial team and
will significantly increase the number of medical specialists and sales
professionals supporting EndoPredict. Specific terms of the deal were not
disclosed.
EndoPredict provides physicians with information to devise personalized
treatment plans for their breast cancer patients. The EndoPredict test kit
format is an ideal platform for use by clinical pathologists, who desire to
conduct testing within their own laboratories. In contrast to older multi-gene
tests, EndoPredict detects the likelihood of late metastases (i.e., metastasis
formation after more than five years) and can thus guide treatment decisions for
chemotherapy as well as extended anti-hormonal therapy. Accordingly, therapy
decisions backed by EndoPredict confer a high level of diagnostic safety.
EndoPredict was shown to accurately predict cancer-specific disease progression
and metastasis in multiple clinical outcome studies with more than 2,200
patients.
"Myriad has a significant opportunity to leverage our international presence,
and we are pleased to be partnering with Sividon to make EndoPredict even more
widely available to patients in Europe and worldwide," said Gary King, Executive
Vice President, International Operations, Myriad Genetics. "We are committed to
contributing to the health of people in Europe through a strong sales and
marketing organization that provides enhanced access to life-saving products for
patients and cost effective solutions for healthcare providers. Myriad's team of
field specialists will support EndoPredict's current customers in liaison with
Sividon's medical expert team, thus providing additional levels of support and
contact."
"Sividon's EndoPredict, backed by compelling evidence from clinical studies with
thousands of patients combined with Myriad's strong commercial capability and
coverage in many key countries creates an outstanding partnership," said Dr.
Christoph Petry, CEO of Sividon Diagnostics. "Breast cancer affects the life of
more than 388,000 women per year in Europe, and EndoPredict will help to
significantly improve their cancer treatment. We are delighted to partner with
Myriad to help save and improve the lives of more women with breast cancer."
About Myriad Genetics GmbH
Myriad Genetics GmbH is based in Zurich, Switzerland and is the international
subsidiary of Myriad Genetics Inc., 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 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 Genetics GmbH is making a difference, please
visit the Company's website: www.myriad.ch. Myriad and the Myriad logo are
trademarks or registered trademarks of Myriad Genetics, Inc. in the United
States and worldwide. MYGN-F, MYGN-G
About Sividon
Sividon Diagnostics GmbH was founded in 2010 as a management buyout from Siemens
Healthcare Diagnostics in Cologne, Germany. Sividon is dedicated to develop
modern methods for the molecular pathology laboratory to help improve the
quality of care for cancer patients. Sividon's first product, EndoPredict, has
been introduced into the market in 2011 and allows for a more individualized
therapy management in breast cancer. For more information on Sividon please
visit the Sividon's website at www.sividon.com. Sividon, the Sividon logo and
EndoPredict are registered trademarks of Sividon Diagnostics GmbH in Germany and
other countries.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
relating to the EndoPredict test and Myriad's partnering with Sividon to market
the EndoPredict test in Europe and worldwide; and the Company's strategic
directives under the caption "About Myriad Genetics." These "forward-looking
statements" are management's present expectations of future events and are
subject to a number of risks and uncertainties that could cause actual results
to differ materially and adversely from those described in the forward-looking
statements. These risks include, but are not limited to: the risk that sales and
profit margins of our existing molecular diagnostic tests and companion
diagnostic services may decline or will not continue to increase at historical
rates; risks related to changes in the governmental or private insurers
reimbursement levels for our tests; the risk that we may be unable to develop or
achieve commercial success for additional molecular diagnostic tests and
companion diagnostic services in a timely manner, or at all; the risk that we
may not successfully develop new markets for our molecular diagnostic tests and
companion diagnostic services, including our ability to successfully generate
revenue outside the United States; the risk that licenses to the technology
underlying our molecular diagnostic tests and companion diagnostic services
tests and any future tests are terminated or cannot be maintained on
satisfactory terms; risks related to delays or other problems with operating our
laboratory testing facilities; risks related to public concern over our genetic
testing in general or our tests in particular; risks related to regulatory
requirements or enforcement in the United States and foreign countries and
changes in the structure of the healthcare system or healthcare payment systems;
risks related to our ability to obtain new corporate collaborations or licenses
and acquire new technologies or businesses on satisfactory terms, if at all;
risks related to our ability to successfully integrate and derive benefits from
any technologies or businesses that we license or acquire; risks related to
increased competition and the development of new competing tests and services;
the risk that we or our licensors may be unable to protect or that third parties
will infringe the proprietary technologies underlying our tests; the risk of
patent-infringement claims or challenges to the validity of our patents; risks
related to changes in intellectual property laws covering our molecular
diagnostic tests and companion diagnostic services and patents or enforcement in
the United States and foreign countries, such as the Supreme Court decision in
the lawsuit brought against us by the Association for Molecular Pathology et al;
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 of our most recent Annual Report on Form 10-
K 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: Media Contacts:
Ron Rogers
(801) 584-3065
rrogers@myriad.com
Esther Linnenberg
+49-221-66956170
linnenberg@sividon.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
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Source: Myriad Genetics, Inc. via GlobeNewswire
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