Nationwide search for permanent successor underway
SALT LAKE CITY, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced the retirement of Jerry Lanchbury Ph.D. as chief scientific officer (CSO), after more than 19 years of distinguished service.
A national search for a permanent CSO is underway. Lanchbury will provide consulting and scientific advisory services for Myriad Genetics through the end of the first quarter of 2022.
Lanchbury joined Myriad Genetics in September 2002. Most recently, he drove health equity advancements such as Myriad’s MyRisk™ Hereditary Cancer Test with RiskScore® for all ancestries. Lanchbury previously led efforts to develop and gain FDA approval for companion diagnostic tests including BRACAnalysis® CDx and MyChoice® CDx. He also spearheaded the development of Myriad’s Prolaris® Prostate Cancer Test, and oversaw expanded clinical validation of the EndoPredict® Breast Cancer Prognostic Test and other products.
“Through his tenure at Myriad Genetics Jerry Lanchbury served as a respected scientist, researcher, colleague and collaborator whose innovative work helped improve outcomes for millions of patients and healthcare providers. He led numerous peer-reviewed scientific studies and made significant contributions to elevating our portfolio of genetic tests in oncology, women’s health, urology, and companion diagnostics,” said Paul J. Diaz, president and CEO of Myriad Genetics. “We are thankful for Jerry’s leadership and wish him the best.”
Dale Muzzey, Ph.D., vice president of bioinformatics at Myriad Genetics, has been promoted to senior vice president for research and development, and will serve as interim CSO. Kirsten Timms, Ph.D., vice president of biomarker discovery also has been promoted to senior vice president, focusing on the expansion of Myriad’s MyChoice CDx companion diagnostics capabilities.
“We are fortunate to have a deep bench of talented scientists and research professionals on our team,” Diaz added. “As we search for a permanent CSO, we will focus on continuous scientific innovation coupled with strong, scalable commercial capabilities and partnerships to extend our reach and expand access to genetic insights.”
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad discovers and commercializes genetic tests that determine the risk of developing disease, assess the risk of disease progression, and guide treatment decisions across medical specialties where critical genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit the company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, MyRisk, Myriad MyRisk, MyRisk Hereditary Cancer, MyChoice, MyPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice CDx, EndoPredict, Prequel, Foresight, GeneSight, RiskScore and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Dr. Lanchbury providing consulting and scientific advisory services, the search for a permanent CSO, the company’s focus on continuous scientific innovation and strong, scalable commercial capabilities and partnerships to extend the company’s reach and expand access to genetic insights, and the company’s strategic imperatives under the caption “About Myriad Genetics.” These “forward-looking statements” are management’s present expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to: uncertainties associated with COVID-19, including its possible effects on the company’s operations and the demand for its products and services; risks related to the company’s ability to efficiently and flexibly manage its business amid uncertainties associated with COVID-19; the risk that sales and profit margins of the company’s existing molecular diagnostic tests may decline or that the company may not be able to operate its business on a profitable basis; risks related to the company’s ability to generate sufficient revenue from its existing product portfolio or in launching and commercializing new tests; risks related to changes in governmental or private insurers’ coverage and reimbursement levels for the company’s tests or the company’s ability to obtain reimbursement for its new tests at comparable levels to its existing tests; risks related to increased competition and the development of new competing tests and services; the risk that the company may be unable to develop or achieve commercial success for additional molecular diagnostic tests in a timely manner, or at all; the risk that the company may not successfully develop new markets for its molecular diagnostic tests, including the company’s ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying the company’s molecular diagnostic tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating the company’s laboratory testing facilities; risks related to public concern over genetic testing in general or the company’s tests in particular; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of the healthcare system or healthcare payment systems; risks related to the company’s ability to obtain new corporate collaborations or licenses and acquire new technologies or businesses on satisfactory terms, if at all; risks related to the company’s ability to successfully integrate and derive benefits from any technologies or businesses that it licenses or acquires; risks related to the company’s projections about the potential market opportunity for the company’s products; the risk that the company or its licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying the company’s tests; the risk of patent-infringement claims or challenges to the validity of the company’s patents; risks related to changes in intellectual property laws covering the company’s molecular diagnostic tests, or patents or enforcement, in the United States and foreign countries; risks related to security breaches, loss of data and other disruptions, including from cyberattacks; risks of new, changing and competitive technologies and regulations in the United States and internationally; the risk that the company may be unable to comply with financial operating covenants under the company’s credit or lending agreements; and other factors discussed under the heading “Risk Factors” contained in Item 1A of the company’s Transition Report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2021, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
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