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Myriad Genetics

#7240

Rank

$466.42M

Marketcap

US United States

Country

Myriad Genetics
Leadership team

Mr. Paul J. Diaz (CEO, Pres & Director)

Mr. R. Bryan Riggsbee (Exec. VP, CFO & Treasurer)

Ms. Nicole Lambert (Chief Operating Officer)

Products/ Services
Biotechnology, Pharmaceutical
Number of Employees
1,000 - 20,000
Headquarters
Salt Lake City, Utah, United States
Established
1991
Company Registration
SEC CIK number: 0000899923
Revenue
500M - 1B
Traded as
MYGN
Social Media
Overview
Location
Summary
Myriad Genetics, Inc., a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer. The company also offers Prolaris Prostate Cancer Prognostic Test, a RNA expression tumor analysis for assessing the aggressiveness of prostate cancer; EndoPredict Breast Cancer Prognostic Test, a RNA expression test for assessing the aggressiveness of breast cancer; Precise Tumor, a solution for precision oncology; and Prequel Prenatal Screen, a non-invasive prenatal screening test conducted using maternal blood to screen for severe chromosomal disorders in a fetus. In addition, it provides Foresight Carrier Screen, a prenatal test for future parents to assess their risk of passing on a recessive genetic condition to their offspring; and GeneSight Psychotropic Mental Health Medication Test, a DNA genotyping test to aid psychotropic drug selection for patients suffering from depression, anxiety, ADHD, and other mental health conditions. Myriad Genetics, Inc. has a strategic collaboration with Illumina, Inc. and Intermountain Precision Genomics for an offering of germline and somatic tumor testing services. The company was founded in 1991 and is headquartered in Salt Lake City, Utah.
History

The global search for the genetic basis of breast cancer began in April 1978 when Dr. Mark Skolnick began his research on family disease and linkages at the University of Utah. Numerous other groups also worked to locate BRCA, including Mary-Claire King, Ph.D., from the University of California, Berkeley where she announced the localization through linkage analysis of a gene associated with increased risk for breast cancer to the long arm of chromosome 17.To locate the actual gene, Dr. Skolnick and his colleagues invented a landmark gene mapping technique known as Restriction Fragment-length Polymorphisms . Gilbert joined Kimberlin in 1991, and they teamed up with Skolnick to form Myriad Genetics.In August 1994, Mark Skolnick and researchers at Myriad, along with colleagues at the University of Utah, the U.S. National Institutes of Health , and McGill University patented and sequenced BRCA1.The firm then established the first clinical laboratory to commercialize genomic testing. Its capabilities have saved countless lives by informing millions of women about their BRCA1/2 risk. Myriad created the first test to measure the molecular biology and aggressiveness of men’s prostate cancer, devised a method to assess the inherited breast cancer risk of any woman not previously diagnosed with breast cancer, regardless of ancestry, important for addressing racial and ethnic disparities, commercialized a psychotropic test that covers 61 medications commonly prescribed for depression, anxiety, ADHD. Also pioneering the field of DNA-specific medicine, Myriad received the first FDA approval for a lab-developed diagnostic test for use in predicting the responses to a DNA-repair drug.

Acquisitions and Subsidiaries

In August 2016, Myriad announced it would acquire Assurex Health for up to $410 million, expanding the company's genetic testing for psychotropic medicine selection.In July 2018, Myriad completed an acquisition of reproductive genetic testing firm Counsyl for $375 million, expanding the company's testing capabilities to carrier and prenatal screening.Other subsidiaries of Myriad Genetics include Myriad International and Myriad Autoimmune .

Founders

The founders of Myriad are Peter Meldrum , Kevin Kimberlin , Dr. Walter Gilbert and Mark Skolnick .

Mission
Answering patients’ four most pressing questions: Will I get a disease? Do I have a disease? Should I treat this disease? How should I treat this disease? In six medical specialties: Oncology Women’s Health Urology Dermatology Autoimmune Neuroscience
Vision
Our vision is to create a world where healthcare decisions are informed by genetic information.
Key Team

Mr. Mark S. Verratti (Chief Commercial Officer)

Ms. Natalie Munk (Principal Accounting Officer)

Dr. Kevin Richard Haas (Chief Technology Officer)

Dr. Dale Muzzey Ph.D. (Chief Scientific Officer)

Mr. Scott Gleason (Sr. VP of Investor Relations)

Dr. Clivetty Martinez (Chief Compliance Officer)

Ms. Pamela Wong (Chief Legal Officer)

Recognition and Awards
Myriad has been named one of the top 15 best large companies on Fortune's 2017 great places to work list, one of the top 100 companies on Forbes’ 2017 list of the world’s most innovative companies, one of America’s 100 Most Trustworthy Companies by Forbes, and one of America’s top small and mid-sized employers by Forbes.
References

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Myriad Genetics
Leadership team

Mr. Paul J. Diaz (CEO, Pres & Director)

Mr. R. Bryan Riggsbee (Exec. VP, CFO & Treasurer)

Ms. Nicole Lambert (Chief Operating Officer)

Products/ Services
Biotechnology, Pharmaceutical
Number of Employees
1,000 - 20,000
Headquarters
Salt Lake City, Utah, United States
Established
1991
Company Registration
SEC CIK number: 0000899923
Revenue
500M - 1B
Traded as
MYGN
Social Media