Myriad Genetics Announces Agreement to Acquire Rules-Based Medicine (MYGN)

Myriad Genetics MYGN today announced that it has entered into a definitive merger agreement to acquire privately-held Rules-Based Medicine (RBM) of Austin, Texas for $80 million in cash. The deal expands Myriad's research portfolio into new disease states, including psychiatric disorders, infectious diseases and inflammatory diseases, and adds eight new molecular diagnostic product candidates to Myriad's already strong pipeline. RBM's history of strategic alliances with over 20 major pharmaceutical and biotechnology companies, coupled with Myriad's position in PARP inhibitors and PI3K inhibitors, creates a leading franchise in companion diagnostics. Furthermore, the RBM acquisition provides Myriad with access to patient cohorts for new diagnostic development and is expected to enhance Myriad's industry-leading DNA and RNA technologies with unparalleled strength in protein discovery and analysis.