Myriad, Roche Form $13M ProNet Technology Alliance

Jan 16, 2000

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ALT LAKE CITY--Myriad Genetics here and Roche have formed a strategic alliance enabling Roche to use Myriad’s ProNet technology for heart disease drug target discovery. In the agreement, Myriad will receive royalties from Roche on the sale of all cardiovascular drugs developed under the collaboration, in addition to a potential $13 million in research funding, license fees, and milestone payments. "The ProNet technology is elucidating the role of proteins in major disease pathways and impacting the development of new safer, more effective drugs," said Peter Meldrum, Myriad’s president and CEO. The technology is used to isolate a protein’s functional partners from libraries containing more than 5 million possibilities.

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