Myriad Web portal, acquisition, 7/16

July 2016—Myriad Genetics launched a Web portal on ms360.myriad.com that allows patients to access their personal test results and to access other tools and ideas to help them make health care decisions. The first phase of the portal will provide access to test results for the company’s hereditary cancer and prostate cancer tests.

In a separate announcement, Myriad has acquired Sividon Diagnostics, a breast cancer prognostic company, for approximately $38 million upfront with the potential for approximately $16 million in additional performance-based milestones. Myriad expects the deal to be neutral to both revenue and earnings in fiscal year 2017.

Sividon Diagnostics was spun out of Siemens Healthcare Diagnostics in July 2010 as part of a management buyout. Its core EndoPredict product is a kit-based RNA expression test that evaluates 12 genes to assess the aggressiveness of breast cancer on a molecular level. The test is currently CE marked on the Siemens Versant instrument, however Myriad is transitioning the product to the Thermo Fisher QuantStudio platform as a key step in the international kit strategy.

Myriad Genetics, 801-584-3600