Myriad Genetics Inc
) entered into a cancer research collaboration with Janssen
Research & Development, LLC. Per the agreement, the latter
will use Myriad's BRAC
test in its Phase 3 clinical trial of Yondelis (trabectedin) in
the treatment of advanced-relapsed epithelial ovarian, primary
peritoneal or fallopian tube cancers (NCT01846611). However,
financial terms of the deal were not disclosed.
This collaboration validates Myriad's strategy to establish
its gold standard diagnostic test BRAC
as the leading companion diagnostic. The company is currently
working on creating alliances with big pharmaceutical
Last month, Myriad entered into research collaboration with
BioMarin Pharmaceutical Inc
). This marks the second such arrangement forged between the two
partners. The recent agreement allows BioMarin to use Myriad's
novel Homologous Recombination Deficiency test, popularly known
as HRD. In Oct 2013, Myriad had forged its first agreement with
BioMarin to use its BRACAnalysis test in connection with the
latter's Phase III study of BMN-673 for breast cancer.
Earlier in September, Myriad had inked an expanded,
nonexclusive worldwide collaboration agreement with
) to offer companion diagnostics for the latter's pivotal Phase 3
clinical development program for the oncology candidate olaparib.
This deal is also an extension of an existing tie-up between
Myriad and AstraZeneca through which Myriad provided BRACAnalysis
tests to assist the latter in its Phase 2 development program for
olaparib in breast and ovarian cancer.
Myriad has joined hands with several pharmaceutical majors to
assert itself as a strong player in the companion diagnostic
market. Per management, these alliances with major pharmaceutical
players collectively reflect a market potential of over $1
billion for Myriad in the field of diagnostics and companion
diagnostics. We are upbeat about the company's growth prospects
in the companion diagnostics space and believe that these
developments should augur well for the long-term development of
Currently, Myriad carries a Zacks Rank #2 (Buy).Investors
interested in the industry may also consider stocks like
) that sports a Zacks Rank #1 (Strong Buy).
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