Myriad Acquires Novel Technology From Melanoma Diagnostics

Myriad Genetics, Inc., recently announced that it has signed an agreement to acquire proprietary technology for the diagnosis and prognosis of malignant melanoma using highly validated genetic markers from Melanoma Diagnostics, Inc. of Altadena, CA. Under the agreement, Myriad has the right to commercialize all tests derived from the technology on a worldwide basis in exchange for upfront fees and contingent payments based upon the commercial success of the products. According to a company press relase, failure to accurately diagnose melanoma is one of the leading causes for medical litigation in the United States. Over-diagnosing melanoma can lead to significant patient trauma and additional, unnecessary healthcare costs. "The tests that may be developed from the technology that we are acquiring may provide physicians with important information in the differential diagnosis of melanoma from otherwise benign moles, and in understanding the aggressiveness of the patient's disease," said Mark Capone, President of Myriad Genetic Laboratories, Inc., in the press release. "This will expand our presence in the solid tumor market as we develop a dermatology commercialization team that also will market our existing Melaris test for melanoma predisposition." The clinical validations for the melanoma genetic markers were published in Proceedings of the National Academy of Sciences by Dr. Kashani-Sabet, a world leader in melanoma research and the founder of Melanoma Diagnostics, Inc. A large training and validation set (n=693) measured the expression levels of five genes by immunohistochemistry to accurately differentiate patients with melanomas from those with benign nevi sensitivity = 95%, specificity = 91%). In a second publication in Clinical Cancer Research, Dr. Kashani-Sabet demonstrated in a separate training and validation set (n=536) that the proprietary genetic markers were the most significant factor in predicting disease-specific survival (p=0.01) when compared to other clinical factors. "The sale of our technology to Myriad with their existing substantial capabilities is a tremendous opportunity for the future development and commercialization of novel molecular diagnostic tests," said Dr. Kevin Scanlon, CEO of Melanoma Diagnostics. "Pathologists and oncologists may have access to key diagnostic and prognostic tests that will shed light on the complex nature of melanoma, enabling them to make more confident clinical decisions that should improve the quality of patient care and lower the cost of disease management."