Exclusive financial advisor to Myriad Genetics, Inc.
KPMG Corporate Finance LLC acted as exclusive financial advisor to Myriad Genetics, Inc.
KPMG Corporate Finance LLC is pleased to announce the sale of the EndoPredict® business of Myriad Genetics, Inc. to Eurobio Scientific SA.
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Publicly traded and headquartered in Salt Lake City, Utah, 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.
The sale of its EndoPredict® business to Eurobio is part of Myriad’s reorganization of its international operations to better align company resources to its domestic opportunities while continuing to serve key biopharma partners and patients globally. As part of the transaction, Myriad licensed Eurobio the right to sell Prolaris® in vitro diagnostic kits outside of the US. Additionally, Myriad licensed rights to continue to produce and sell EndoPredict in the U.S. as part of Precise™ Oncology Solutions, its comprehensive suite of precision medicine tools for breast, prostate, ovarian, pancreatic, endometrial, and colon cancer.
“The reorganization of Myriad’s International operations will enable us to continue growing our oncology and biopharma business in Europe and Asia, including Japan, through a more efficient commercial distribution model that reduces organizational complexity and enterprise risk,” said Paul J. Diaz, President and CEO, Myriad Genetics.
KPMG Corporate Finance acted as the exclusive financial advisor to Myriad Genetics in this transaction. Additionally, KPMG LLP provided Strategy, Financial Due Diligence and Tax Advisory services to Myriad Genetics in connection with this transaction.
About EndoPredict® Breast Cancer Prognostic Test
EndoPredict® is a prognostic test that predicts patient risk of breast cancer recurrence to help identify who can consider safely forgoing chemotherapy.
About Prolaris® Prostate Cancer Prognostic Test
Prolaris is a molecular diagnostic test that provides personalized information about the aggressiveness of a patient's prostate cancer.
About Eurobio Scientific
Eurobio Scientific is a publicly traded, French leader in the field of in vitro diagnostics with expertise ranging from discovery to commercialization of specialty diagnostic solutions as well as products for life sciences research.
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Trust KPMG Corporate Finance LLC with your next transaction
The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked as the top (#1) M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.