Precision medicine company Myriad Genetics has signed an agreement to sell its EndoPredict business to French IVD and life sciences firm Eurobio Scientific.
In addition, Eurobio will receive the license to sell Myriad's Prolaris IVD kits outside the U.S. The transaction is subject to customary closing conditions; Myriad expects the transaction to close in the second or third quarter of 2024.
The sale is part of Myriad's plan to reorganize its European operations to focus the firm's resources on its domestic opportunities while continuing to serve key partners and patients outside the U.S., Myriad said in a statement.
Myriad will also license the rights to continue to produce and sell its laboratory-developed test EndoPredict in the U.S. as part of its Precise Oncology Solutions suite of tests for breast, prostate, ovarian, pancreatic, endometrial, and colon cancers. EndoPredict is a prognostic test that predicts patient risk of breast cancer recurrence.
