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Myriad Genetics Launches Pharmaceutical Subsidiary

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SALT LAKE CITY--Myriad Genetics recently formed a new subsidiary, Myriad Pharmaceuticals, to develop therapeutic lead compounds for certain common diseases with large potential markets. The new subsidiary will use drug targets discovered with the company's protein interaction technology, ProNet, to identify candidates for preclincal development.

The new subsidiary will be led by Adrian Hobden, former director of biotechnology ventures at Glaxo Wellcome.

Hobden said the new subsidiary "expects that the correct choice of targets, using Myriad's strengths in genetics, bioinformatics, and protein interaction technology, will result in both safer drugs and drugs that are able to prevent either development or further progression of disease."

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