Genetics, Inc. (Nasdaq: MYGN) and
DuPont (NYSE: DD) announced
today that they 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
Chief Executive Officer 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
Myriad Genetics, Inc. is a leading biopharmaceutical
company focused on the development of novel healthcare products.
The Company has established two wholly owned subsidiaries.
Myriad Pharmaceuticals, Inc. develops and intends to market
therapeutic products, and Myriad Genetic Laboratories, Inc.
develops and markets proprietary predictive medicine and
personalized medicine products. The Company has established
strategic alliances with Abbott, Bayer, Eli Lilly, Dupont,
Hitachi, Novartis, Oracle, Pharmacia, Pioneer, Roche, Schering
AG, Schering-Plough and Syngenta.
Pioneer Hi-Bred International, Inc., a subsidiary of
DuPont, is the world's leading source of customized solutions
for farmers, livestock producers and grain and oilseed
processors. With headquarters in Des Moines, Iowa, Pioneer
provides access to advanced plant genetics, crop protection
solutions and quality crop systems to customers in nearly 70
countries. During 2002, DuPont is celebrating its 200th year of
scientific achievement and innovation -- providing products and
services that improve the lives of people everywhere. Based in
Wilmington, Del., DuPont delivers science-based solutions for
markets that make a difference in people's lives in the areas of
food and nutrition, health care, apparel, home and construction,
electronics and transportation.