Myriad Genetics and Ultima Genomics to Explore the UG 100™ Sequencing Platform to Advance Clinical Test Offerings in Oncology and Reproductive Genomics
Myriad Genetics and Ultima Genomics have announced a collaboration to explore Ultima's UG 100™ sequencing platform and ppmSeq™ technology for advancing Myriad's clinical test offerings in oncology and reproductive genomics. Myriad has purchased a UG 100 for its new Lab of the Future facility in South San Francisco. The platform's low-cost and low-error sequencing capabilities may benefit Myriad's emerging products, including:
1. The Myriad Precise Molecular Residual Disease (MRD) test, which performs whole-genome sequencing on tumor and normal tissue samples to identify tumor-specific variants.
2. The upcoming FirstGene Multiple Prenatal Screen, which will run multiple prenatal screens via a single sequencing workflow.
Both Myriad and Ultima Genomics express optimism about the potential of this collaboration to improve test performance, lower costs, and expand access to cutting-edge genetic testing.
Myriad Genetics e Ultima Genomics hanno annunciato una collaborazione per esplorare la piattaforma di sequenziamento UG 100™ di Ultima e la tecnologia ppmSeq™ per avanzare l'offerta di test clinici di Myriad nell'oncologia e nella genomica riproduttiva. Myriad ha acquistato un UG 100 per il suo nuovo Laboratorio del Futuro a South San Francisco. Le capacità di sequenziamento a basso costo e basso margine di errore della piattaforma potrebbero avvantaggiare i nuovi prodotti di Myriad, tra cui:
1. Il test di Malattia Residua Molecolare Precisa (MRD) di Myriad, che esegue il sequenziamento del genoma intero su campioni di tessuti tumorali e normali per identificare varianti specifiche del tumore.
2. Il prossimo FirstGene Multiple Prenatal Screen, che eseguirà più screening prenatali tramite un unico flusso di lavoro di sequenziamento.
Sia Myriad che Ultima Genomics esprimono ottimismo riguardo al potenziale di questa collaborazione per migliorare le prestazioni dei test, ridurre i costi e ampliare l'accesso a test genetici all'avanguardia.
Myriad Genetics y Ultima Genomics han anunciado una colaboración para explorar la plataforma de secuenciación UG 100™ de Ultima y la tecnología ppmSeq™ con el fin de avanzar en las ofertas de pruebas clínicas de Myriad en oncología y genética reproductiva. Myriad ha adquirido un UG 100 para su nuevo Laboratorio del Futuro en South San Francisco. Las capacidades de secuenciación de bajo costo y bajo margen de error de la plataforma podrían beneficiar los productos emergentes de Myriad, que incluyen:
1. La prueba de Enfermedad Molecular Residual Precisa (MRD) de Myriad, que realiza secuenciamiento del genoma completo en muestras de tejidos tumorales y normales para identificar variantes específicas del tumor.
2. La próxima FirstGene Multiple Prenatal Screen, que realizará múltiples pruebas prenatales a través de un único flujo de trabajo de secuenciación.
Tanto Myriad como Ultima Genomics expresan optimismo sobre el potencial de esta colaboración para mejorar el rendimiento de las pruebas, reducir costos y ampliar el acceso a pruebas genéticas avanzadas.
Myriad Genetics와 Ultima Genomics는 Ultima의 UG 100™ 시퀀싱 플랫폼과 ppmSeq™ 기술을 탐색하기 위한 협업을 발표했습니다. Myriad는 남부 샌프란시스코에 있는 '미래의 실험실' 시설에 UG 100을 구입했습니다. 이 플랫폼의 저비용 및 저오류 시퀀싱 기능은 Myriad의 신제품에 이점을 줄 수 있습니다. 여기에는:
1. Myriad 정밀 분자 잔여 질병 (MRD) 테스트가 포함되며, 이는 종양 및 정상 조직 샘플을 대상으로 하는 전체 유전체 시퀀싱을 수행하여 종양 특이적 변이를 식별합니다.
2. 곧 출시될 FirstGene 다중 산전 스크리닝이 있으며, 이는 단일 시퀀싱 워크플로를 통해 여러 산전 스크린을 실행합니다.
Myriad와 Ultima Genomics 모두 이 협력의 잠재력이 테스트 성능을 개선하고, 비용을 절감하며, 최첨단 유전자 검사에 대한 접근성을 확장할 수 있기를 희망하고 있습니다.
Myriad Genetics et Ultima Genomics ont annoncé une collaboration pour explorer la plateforme de séquençage UG 100™ d'Ultima et la technologie ppmSeq™ afin d'améliorer l'offre de tests cliniques de Myriad en oncologie et en génomique reproductive. Myriad a acheté un UG 100 pour son nouveau Laboratoire du Futur à South San Francisco. Les capacités de séquençage à faible coût et à faible taux d'erreur de la plateforme pourraient profiter aux nouveaux produits de Myriad, notamment :
1. Le test de Maladie Résiduelle Moléculaire Précise (MRD) de Myriad, qui effectue un séquençage de génome entier sur des échantillons de tissus tumoraux et normaux pour identifier des variantes spécifiques aux tumeurs.
2. Le prochain FirstGene Multiple Prenatal Screen, qui effectuera plusieurs dépistages prénatals via un flux de travail de séquençage unique.
Myriad et Ultima Genomics expriment un optimisme quant au potentiel de cette collaboration pour améliorer la performance des tests, réduire les coûts et élargir l'accès aux tests génétiques de pointe.
Myriad Genetics und Ultima Genomics haben eine Zusammenarbeit angekündigt, um Ultimas UG 100™ Sequenzierungsplattform und ppmSeq™ Technologie zu erkunden, um Myriads klinische Testangebote in der Onkologie und Reproduktionsgenomik voranzubringen. Myriad hat ein UG 100 für seine neue Zukunftslabor-Einrichtung in South San Francisco erworben. Die kostengünstigen und fehlerarmen Sequenzierungsfähigkeiten der Plattform könnten Myriads neu entstehenden Produkten zugutekommen, darunter:
1. Der Myriad Präzise Molekulare Residualkrankheit (MRD) Test, der eine Gesamternsequenzierung des Genoms auf Tumor- und normalen Gewebeproben durchführt, um tumorspezifische Varianten zu identifizieren.
2. Der kommende FirstGene Multiple Prenatal Screen, der mehrere pränatale Screenings über einen einzigen Sequenzierungsworkflow durchführen wird.
Sowohl Myriad als auch Ultima Genomics äußern Optimismus hinsichtlich des Potenzials dieser Zusammenarbeit zur Verbesserung der Testleistung, zur Senkung der Kosten und zur Erweiterung des Zugangs zu modernster genetischer Testung.
- Potential for improved performance and cost-effectiveness of Myriad's Precise MRD test using Ultima's technology
- Possible cost reduction and quality improvement for Myriad's upcoming FirstGene Multiple Prenatal Screen
- Acquisition of UG 100 sequencing platform may lead to lower costs and improved quality for Myriad's genetic testing services
- Collaboration could enable Myriad to explore new product areas previously challenging to pursue
- None.
Insights
This collaboration between Myriad Genetics and Ultima Genomics could significantly enhance Myriad's clinical test offerings, particularly in oncology and reproductive health. The UG 100™ platform's low-cost, high-fidelity sequencing capabilities align well with Myriad's upcoming products like the Precise MRD test and FirstGene Multiple Prenatal Screen.
Key points to consider:
- Potential for improved performance and reduced costs in Myriad's Precise MRD test using Ultima's ppmSeq™ technology
- Opportunity to enhance the FirstGene Multiple Prenatal Screen with deeper, more accurate sequencing
- Possible expansion into new product areas previously by sequencing costs
While the immediate financial impact may be , this partnership positions Myriad to potentially increase its competitive edge in the precision medicine market. The ability to offer more comprehensive, cost-effective tests could drive future revenue growth and market share expansion. However, investors should note that the benefits are still speculative and depend on successful integration and market adoption of the new technology.
This partnership signals Myriad's commitment to innovation and cost reduction in genetic testing. The genetic testing market is highly competitive and adopting cutting-edge technology like Ultima's UG 100™ platform could give Myriad a significant advantage.
Market implications:
- Potential for Myriad to capture a larger share of the growing MRD testing market, estimated to reach
$5.8 billion by 2028 - Opportunity to expand in the prenatal screening market, which is projected to grow at a CAGR of
11.7% from 2021 to 2028 - Possible reduction in overall testing costs, which could make genetic tests more accessible and increase test volumes
While the immediate financial impact may be minimal, this move aligns with the industry trend towards more affordable and comprehensive genetic testing. Investors should view this as a long-term strategic investment that could strengthen Myriad's market position and drive future growth in key segments.
SALT LAKE CITY and FREMONT, Calif., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, and Ultima Genomics, Inc., a developer of a revolutionary new ultra-high throughput next-generation sequencing (NGS) platform, today announced a joint effort to explore Ultima’s UG 100™ sequencing platform and its ppmSeq™ technology to advance Myriad’s ability to offer groundbreaking clinical tests. Myriad has purchased a new UG 100 that will soon join other leading sequencing platforms in its new Lab of the Future facility in South San Francisco.
The low-cost and low-error sequencing achievable on the UG 100 may benefit several of Myriad’s emerging products that require large amounts of high-fidelity sequencing data. The Myriad Precise Molecular Residual Disease (MRD) test performs whole-genome sequencing on two samples from cancer patients—one from a tumor and one from normal tissue—to comprehensively identify tumor-specific variants for subsequent tracking in a personalized panel. With Ultima’s support, Myriad will explore the potential for the Precise MRD test to improve in both performance and cost with ppmSeq on the UG 100. In the reproductive-health space, Myriad is expected to launch its FirstGene Multiple Prenatal Screen, which will run the content of multiple prenatal screens via a single sequencing workflow. FirstGene also requires deep and accurate sequencing that the UG 100 platform may be well suited to affordably provide.
"We are delighted to get a UG 100 into our laboratory and work with Ultima Genomics to investigate how it can help us advance patient care,” said Sam Raha, Chief Operating Officer, Myriad Genetics. “A key part of our mission is to make relevant cutting-edge genetic testing broadly accessible. We regularly evaluate new platforms that have the possibility of supporting our mission. As part of that process, we have identified the UG 100 as a potentially transformative platform that may provide an industrial sequencing center like ours the opportunity to lower costs, improve quality, and deepen insights simultaneously. It could influence how we offer and innovate upon some of our promising tests like Precise MRD and FirstGene, which are expected to enter the market in the near future, and it may also support us in exploring new areas with future products that may have been challenging to pursue otherwise.”
“We are pleased to be working with Myriad, a precision medicine leader, in the fast-evolving field of MRD, as well as exploring opportunities to deploy whole genome sequencing in other application areas,” said Gilad Almogy, CEO of Ultima Genomics. “Ultima’s unique sequencing architecture was designed to specifically meet the needs of large-scale applications. For oncology applications, our ppmSeq technology offers accuracy at extremely low limits of detection and we believe this will be transformational for applications requiring earlier detection such as MRD. Additionally, our low-cost sequencing offers an opportunity to affordably transition testing methods towards whole genome approaches where previously it was not possible due to the high costs of sequencing.”
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.
About Ultima Genomics
Ultima Genomics is unleashing the power of genomics at scale. The Company's mission is to continuously drive the scale of genomic information to enable unprecedented advances in biology and improvements in human health. With humanity on the cusp of a biological revolution, there is a virtually endless need for more genomic information to address biology's complexity and dynamic change—and a further need to challenge conventional next-generation sequencing technologies. Ultima's revolutionary new sequencing architecture drives down the costs of sequencing to help overcome the tradeoffs that scientists and clinicians are forced to make between the breadth, depth and frequency with which they use genomic information. The new sequencing architecture was designed to scale far beyond conventional sequencing technologies, lower the cost of genomic information and catalyze the next phase of genomics in the 21st century. To learn more, visit www.ultimagenomics.com/
Myriad Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company’s purchase and expected installation of a UG 100 device in the company’s new Lab of the Future facility in South San Francisco and the potential benefits of the UG 100 device, that the company, with Ultima’s support, will explore the potential for the Precise MRD test to improve both performance and cost with ppmSeq and the UG 100, and that the company expects to launch Precise MRD and FirstGene in the near future. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Myriad Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Myriad Media Contact
Glenn Farrell
(385) 318-3718
PR@myriad.com
Ultima Media Contact
Vikki Herrera
408-206-7009
vikki@oakstreetcommunications.com
FAQ
What is the purpose of Myriad Genetics' collaboration with Ultima Genomics?
How might the UG 100 platform benefit Myriad Genetics' Precise MRD test?
What is Myriad Genetics' FirstGene Multiple Prenatal Screen?
Where will Myriad Genetics install the newly purchased UG 100 sequencing platform?
