Myriad Announces Partnership with OptraHEALTH® to Deliver “Gene™” a New AI Based Information Tool for Hereditary Cancer Patients
Myriad Genetics, Inc. (NASDAQ: MYGN) has announced a collaboration with OptraHEALTH to introduce Gene™, an AI-powered chatbot for delivering genetic and financial information to patients. Gene™ can answer over 500,000 health-related questions, particularly about hereditary cancer. It complements Myriad's online hereditary cancer quiz, used by about one million individuals annually. The chatbot aims to streamline pre-test education and will be launched for Foresight® and Prequel™ tests later in the year, addressing challenges posed by COVID-19 in patient engagement.
- Launch of Gene™ chatbot enhances patient education and engagement.
- AI technology improves access to genetic testing information.
- Collaboration with OptraHEALTH strengthens Myriad's innovation in healthcare.
- Potential challenges in product adoption amid COVID-19 uncertainties.
- Forward-looking statements carry risks of operational disruptions.
SALT LAKE CITY, July 06, 2020 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics and precision medicine, today announced a new collaboration with OptraHEALTH® to implement a cognitive ChatBOT named Gene™ to provide genetic and financial assistance information to prospective patients. Gene is an AI-powered, HIPAA-compliant knowledge platform for genetic health with BOT interfaces and can answer over 500,000 health related questions pertaining to hereditary cancer. Gene interfaces with Myriad’s market leading online hereditary cancer quiz, which is now taken by approximately one million people per year.
“We are excited to offer this innovative new tool for physicians and patients to provide best-in-class pre-test education solutions that we can supplement with live sessions when necessary,” said Nicole Lambert, president of Myriad International, Oncology and Women’s Health. “Myriad is highly focused on making the screening and testing process as streamlined as possible for healthcare providers and the implementation of this new technology will give their patients access to unparalleled online genetic education and support tools. This is especially important in the current environment with COVID-19 where patients may not be returning to the clinic setting and pre-test education can be particularly helpful as they work remotely with the healthcare provider to determine if testing is right for them.”
Gene will interactively engage individuals online, providing them with education about hereditary cancer prior to taking an online assessment to determine if they may be a candidate for genetic testing. For those who complete the preliminary assessment and meet criteria for further evaluation, Gene will automate a pre-test process that sends an educational link that displays interactive multimedia content and gives the option to start a live conversation with a patient educator, who is a certified genetic counselor. Gene can also assist in finding a healthcare provider who can help a patient make an informed, definitive decision whether testing is appropriate and then order testing if so. Myriad plans on launching the Gene chatbot for its Foresight® and Prequel™ prenatal tests and for companion diagnostic testing in oncology later this calendar year.
About OptraHEALTH:
OptraHEALTH is focused on improving outcomes for consumers and leading Life Sciences and Healthcare organizations by utilizing a next-generation Artificial Intelligence Platform. OptraHEALTH’s flagship product GeneFAX is an AI-powered knowledge platform for genetic health and is available as a web plugin or mobile application.
About Myriad Genetics
Myriad Genetics Inc., is a leading personalized medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on three strategic imperatives: transitioning and expanding its hereditary cancer testing markets, diversifying its product portfolio through the introduction of new products and increasing the revenue contribution from international markets. For more information on how Myriad is making a difference, please visit the Company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice CDx, Vectra, Prequel, Foresight, GeneSight, Prolaris and riskScore are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries. MYGN-F, MYGN-G.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to implementation of this new technology giving patients access to unparalleled online genetic education and support tools; plans to launch the Gene chatbot for its ForeSight® and Prequel™ prenatal tests and for hereditary cancer testing in oncology later this calendar year; details of the functionality of the Gene™ chatbot; and the Company's strategic directives under the caption "About Myriad Genetics." These "forward-looking statements" are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties associated with COVID-19, including its possible effects on our operations and the demand for our products and services; our ability to efficiently and flexibly manage our business amid uncertainties related to COVID-19; the risk that sales and profit margins of our molecular diagnostic tests and pharmaceutical and clinical services may decline; risks related to our ability to transition from our existing product portfolio to our new tests, including unexpected costs and delays; risks related to decisions or changes in governmental or private insurers’ reimbursement levels for our tests or our ability to obtain reimbursement for our new tests at comparable levels to our existing tests; risks related to increased competition and the development of new competing tests and services; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic tests and pharmaceutical and clinical services in a timely manner, or at all; the risk that we may not successfully develop new markets for our molecular diagnostic tests and pharmaceutical and clinical services, including our ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying our molecular diagnostic tests and pharmaceutical and clinical services and any future tests and services are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating our laboratory testing facilities and our healthcare clinic; risks related to public concern over genetic testing in general or our tests in particular; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of the healthcare system or healthcare payment systems; risks related to our ability to obtain new corporate collaborations or licenses and acquire new technologies or businesses on satisfactory terms, if at all; risks related to our ability to successfully integrate and derive benefits from any technologies or businesses that we license or acquire; risks related to our projections about our business, results of operations and financial condition; risks related to the potential market opportunity for our products and services; the risk that we or our licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying our tests; the risk of patent-infringement claims or challenges to the validity of our patents or other intellectual property; risks related to changes in intellectual property laws covering our molecular diagnostic tests and pharmaceutical and clinical services and patents or enforcement in the United States and foreign countries, such as the Supreme Court decisions in Mayo Collab. Servs. v. Prometheus Labs., Inc., 566 U.S. 66 (2012), Ass’n for Molecular Pathology v. Myriad Genetics, Inc., 569 U.S. 576 (2013), and Alice Corp. v. CLS Bank Int’l, 573 U.S. 208 (2014); risks of new, changing and competitive technologies and regulations in the United States and internationally; the risk that we may be unable to comply with financial operating covenants under our credit or lending agreements; the risk that we will be unable to pay, when due, amounts due under our credit or lending agreements; and other factors discussed under the heading "Risk Factors" contained in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended June 30, 2019, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. All information in this press release is as of the date of the release, and Myriad undertakes no duty to update this information unless required by law.
| Media Contact: | Jared Maxwell (801) 505-5027 jmaxwell@myriad.com | Investor Contact: | Scott Gleason (801) 584-1143 sgleason@myriad.com | |||
FAQ
What is the purpose of the Gene™ chatbot by Myriad Genetics?
When will the Gene™ chatbot be launched?
What type of questions can Gene™ chatbot answer?
How many people use Myriad's hereditary cancer quiz annually?
How does the Gene™ chatbot assist healthcare providers?
