Myriad and Abbvie Deal on Companion Diagnostic Test for Breast Cancer

The BRCAnalysis test will be used in conjunction with Abbvie's novel PARP inhibitor veliparib for the treatment of breast cancer.

Myriad Genetics, Inc. (Nasdaq:MYGN) announced today that it has signed an expanded companion diagnostic agreement with AbbVie, Inc. (NYSE:ABBV), a leading global biopharmaceutical company to use Tumor BRACAnalysis CDx™ as a companion diagnostic in support of AbbVie's novel poly (ADP-ribose) polymerase or PARP inhibitor, veliparib.

The collaboration builds upon Myriad's previous agreements with AbbVie under which the company is providing BRACAnalysis CDx testing to support several of AbbVie's ongoing Phase 3 clinical studies of veliparib, including neo-adjuvant and metastatic breast cancer.

"Myriad's goal is to provide best-in-class patient care, and we believe that Tumor BRACAnalysis CDx will help us deliver on this goal by identifying patients who may respond to breakthrough therapies currently in development," said Peter Meldrum, president and CEO of Myriad. "We are excited to expand our collaboration with AbbVie, an emerging leader in oncology, and believe their choice of Myriad as a commercial partner speaks to our unique ability to provide high quality, high value companion diagnostic testing on a global basis."

The press release on CNN Money: http://cnnmon.ie/10OQrsI