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Myriad Genetics Earns $2 Million Milestone From Schering-Plough

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SALT LAKE CITY, Utah--Genomics company Myriad Genetics here recently announced that it has received a $2 million milestone payment from Schering-Plough as a result of new discoveries related to a gene involved in brain cancer. Further milestone and royalty payments may result from the research on the role of the MMAC1 gene in the pathogenesis of cancer in the future, Myriad added. The gene was discovered earlier in the year by Myriad and the University of Texas MD Anderson Cancer Center.

The milestone payment is separate from a collaboration previously announced between Myriad and Plough, under which Myriad could earn up to $60 million plus royalties on products developed as a result of the company's gene discovery efforts.

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