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Myriad and Abbott Enter Into Broad Discovery Collaboration

13 Apr 2006 - Myriad Genetics, Inc. and Abbott announced that the two companies have entered into a broad drug discovery collaboration to identify novel therapeutic targets. The collaboration will leverage proprietary technology from both organizations to identify favorable targets amenable to drug discovery.
 
Under the five-year research agreement, Myriad will use its genetics, RNA expression profiling, and other discovery technologies, to identify human genes and regulatory networks associated with a variety of diseases. Myriad will evaluate differences in DNA and the RNA expression between thousands of individuals to identify the genetic basis of disease. Abbott will advance these genes through its chemical genomics platform to identify targets and leads for drug discovery.
 
Each company will have exclusive rights to the therapeutic targets and drug lead compounds to expand their therapeutic pipelines. Myriad will receive approximately 40 percent of the targets with associated lead compounds identified under the collaboration. Abbott will receive approximately 60 percent. Financial terms of the agreement were not disclosed.