SALT LAKE CITY, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced that the United States Patent and Trademark Office has issued a third patent that will strengthen its ability to deliver a tumor-informed, high-definition, molecular residual disease (MRD) assay to market.
U.S. patent no. 12,104,212, entitled "Personalized Methods for Detecting Circulating Tumor DNA,” demonstrates Myriad's continued efforts to advance its MRD strategy on multiple fronts. The claims of the patent cover proprietary methods that generate ultra-sensitive detection of tumor-specific mutations in circulating tumor DNA (ctDNA).
Earlier this year, Myriad Genetics announced the grant of two complementary patents related to foundational platform MRD technology and cell-free DNA preparation methods that each enable highly sensitive and specific tumor-informed, sequencing-based MRD assays such as Precise® MRD.
"The issuance of this third MRD patent supports Myriad's efforts to establish a proprietary and differentiated MRD assay that tracks up to thousands of tumor-specific variants, making it capable of detecting ctDNA at lower levels than other products in the market today,” said Paul J. Diaz, President and CEO, Myriad Genetics. "We have developed our Precise MRD assay by leveraging Myriad's existing technology and building upon our FDA-approved MyChoice® CDx companion diagnostic and FirstGeneTM platforms. We believe that our unique set of capabilities will enable us to profitably commercialize Precise MRD, advancing oncology care for patients in this emerging and under-penetrated market.”
Myriad continues to develop its Precise MRD assay to meet the needs of cancer patients, academic partners, and biopharma companies. The test is currently undergoing several high-impact studies while also transitioning to the company's state-of-the-art laboratory facility in Salt Lake City. Myriad has announced several MRD collaborations, including a metastatic breast cancer study with researchers at Memorial Sloan Kettering, a metastatic renal cell carcinoma study with clinicians at The University of Texas MD Anderson Cancer Center, and a prospective pan-cancer study led by researchers at the National Cancer Center Hospital East in Japan.
Precise MRD is available for use in research studies pursued jointly by Myriad and academic or pharmaceutical investigators.
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 www.myriad.com.
Safe Harbor Statement
This press release contains "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including that issuance of a patent will strengthen Myriad's ability to deliver a tumor-informed, high-definition, MRD assay to market and support Myriad's efforts to establish a proprietary and differentiated MRD assay, and that Myriad's unique set of capabilities will enable it to profitably commercialize Precise MRD, advancing oncology care for patients in this emerging and under-penetrated market. 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.
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