Myriad Genetics Inc. (MYGN - Free Report) entered into a research collaboration with biotechnology company, BioMarin Pharmaceutical Inc. (BMRN - Free Report) . This is the second such arrangement forged between the two partners. However, the terms of the agreement are yet to be disclosed.
The recent agreement allows BioMarin to use Myriad's novel Homologous Recombination Deficiency test, popularly known as HRD. This test will help detect tumors that have lost the ability to repair double-stranded DNA breaks, resulting in increased susceptibility to DNA-damaging drugs. Tumors that could adversely respond to BioMarin's drug candidate, BMN-673, can also be identified through this test.
Myriad recognizes the complex and dynamic nature of the biology of cancer. The joint initiative fulfils the need for a comprehensive test to identify patients who can possibly benefit from treatment with PARP inhibitors or DNA damaging agents.
Myriad Genetics develops new molecular diagnostic tests taking into account the active role of genes in the treatment and recurrence of diseases.
BMN 673 is a novel and highly potent PARP1/2 inhibitor used for the treatment of human cancers with DNA repair deficiency. PARP1/2 inhibitors comprise a class of anti-cancer agents that target tumor-specific defects in DNA repair. Currently, BMN 673 is undergoing early-phase clinical development meant to evaluate its success rate in cancer treatment.
Globally, medical as well as research professionals have been constantly trying to formulate new ways and means to determine the genetic causes of DNA repair deficiency in the treatment of fatal diseases, such as cancer. The HRD test from Myriad promises to overcome this problem by identifying patients who can benefit from cancer therapy using BioMarin’s PARP inhibitor BMN 673.
In Oct 2013, Myriad had forged its first agreement with BioMarin to use its BRACAnalysis test in connection with the latter’s Phase III study of BMN-673 for breast cancer.
Currently, Myriad Genetics Inc. carries a Zacks Rank #2 (Buy). Investors interested in the industry may consider stocks like Actelion Ltd. and Heska Corp. (HSKA - Free Report) . All these stocks carry a #1 (Strong Buy).