Myriad Genetics (NASDAQ:MYGN) announced a diagnostic development collaboration with BeiGene (NASDAQ:BGNE) a company developing molecularly-targeted and immuno-oncology drugs for the treatment of cancer, to accelerate precision medicine in oncology.
As quoted in the press release:
Under the agreement, BeiGene will use Myriad’s myChoice® HRD and BRACAnalysis CDx® companion diagnostic tests to support the clinical development of its novel PARP inhibitor, BGB-290. Specific terms of the deal were not disclosed.
“We are excited to collaborate with BeiGene to help identify patients who stand to benefit the most from treatment with BGB-290,” said Mark C. Capone, president and CEO, Myriad Genetics. “As the pioneer in companion diagnostics for PARP inhibitors, we recognize that precision medicine only can be achieved by molecularly matching patients to the right therapy. Together with BeiGene, we are in a unique position to integrate advanced genetic information into clinical practice and achieve better patient outcomes.”
About BRACAnalysis CDx®
BRACAnalysis CDx is an in vitro diagnostic device intended for the qualitative detection and classification of variants in the protein coding regions and intron/exon boundaries of the BRCA1 and BRCA2 genes using genomic DNA obtained from whole blood specimens.
About myChoice® HRD
Myriad’s myChoice HRD is the first homologous recombination deficiency test that can detect when a tumor has lost the ability to repair double-stranded DNA breaks, resulting in increased susceptibility to DNA-damaging drugs such as platinum drugs or PARP inhibitors. It is estimated that 1.8 million people in the United States and Europe who are diagnosed with cancers annually may be candidates for treatment with DNA-damaging agents.
About BeiGene and BGB-290
Learn more at: http://www.beigene.com/.
About Myriad Genetics
Myriad Genetics Inc., is a leading personalized medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on three strategic imperatives: transitioning and expanding its hereditary cancer testing markets, diversifying its product portfolio through the introduction of new products and increasing the revenue contribution from international markets. For more information on how Myriad is making a difference, please visit the Company’s website: www.myriad.com.