Myriad Genetics, Inc. Licenses Novel Technology From Chronix Biomedical

SALT LAKE CITY, May 10, 2011 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (Nasdaq:MYGN) today announced that it has signed an agreement to license proprietary technology for the early detection of cancer from Chronix Biomedical of San Jose, California. Under the agreement, Myriad has rights in North America, South America, and Europe to commercialize tests derived from the technology for the early detection of breast cancer, colon cancer and prostate cancer in exchange for upfront fees, milestone payments, and royalty payments based upon the technical and commercial success of the products.