Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced the reorganization of its European operations to focus on domestic opportunities while serving its biopharma partners and patients internationally. The company will sell its EndoPredict business, which includes a breast cancer prognostic test, to Eurobio Scientific, a major French entity in in vitro diagnostics and life sciences. This sale includes a license to Eurobio to sell Prolaris, a prostate cancer test, outside the U.S. Concurrently, Myriad retains the right to continue offering EndoPredict in the U.S. as an LDT through its Precise Oncology Solutions suite. Paul J. Diaz, Myriad’s CEO, stated that this divestiture is aimed at fueling profitable growth and streamlining international operations through strategic partnerships, which include licensing and distribution agreements. The deal, which is expected to close in either Q2 or Q3 of 2024, is subject to standard closing conditions. The acquisition is seen by Diaz as a step toward greater growth opportunities for EndoPredict in Europe, leveraging Eurobio’s regional strength. Myriad focuses on delivering cost-effective healthcare by providing genetic insights that inform treatment decisions across various medical specialties. However, certain risks may impact the closure of this transaction, detailed in the Safe Harbor Statement as well as in Myriad’s SEC filings, including their Annual Report on Form 10-K and subsequent updates.

Biotechnology & Pharmaceuticals, Healthcare, Medical Diagnostics & Research,United States, Europe, France

https://www.globenewswire.com/news-release/2024/05/07/2876805/15459/en/Myriad-Genetics-Announces-Reorganization-of-European-Operations-and-Sale-of-EndoPredict-Business.html