Myriad Genetics, Inc., a leading biopharmaceutical company focused on the development of novel healthcare products and DuPont, the world's leading source of customized solutions for farmers, livestock producers and grain and oilseed processors, have formed a research collaboration to better understand the genetics that drive the proprietary products of Pioneer, a subsidiary of DuPont.
During this two-year, $24 million collaboration, Myriad will apply its high-speed genomic sequencing capability and bioinformatics expertise to deliver molecular genetic information to Pioneer. This effort will enhance the development of high performing seed products.
"In addition to the revenues that Myriad will recognize, this collaboration with DuPont is important to Myriad in the further development and refinement of Myriad's technology processes, tools and automation methods," said Peter Meldrum, president and CEO of Myriad Genetics, Inc. "The technologies applied here are directly applicable to the Company's human therapeutic and diagnostic development programs. We anticipate that rapid haplotype determination will play a valuable role in understanding human genetics and pharmacogenomics and result in improved efficacy and reduced side effects of therapeutics."
"Matched with the best crop scientists in the world, Myriad's expertise will help us better understand the basis of our elite products," says Rick McConnell, Pioneer President. "This information, along with our current efforts, will allow us to make the most of our crop genetics library and benefit our customers around the world."
In the last 5 months, Myriad has initiated strategic alliances with Pharmacia, Abbott and DuPont. These collaborations provide the funding for accelerated technology development within Myriad and the potential discovery of therapeutic and diagnostic products for Myriad and its partners. In addition to therapeutic collaborations, Myriad has a robust internal therapeutic pipeline. The Company's most advanced product, Flurizan, has entered human clinical trials for prostate cancer. Myriad plans to initiate a Phase II trial with Flurizan in colonic polyps later this year. Additional advanced pre-clinical compounds include drugs to treat AIDS, acute thrombosis and colon cancer, rheumatoid arthritis and Alzheimer's disease.