Myriad Genetics Discovers Major Depression Gene

04 февраля, 2003
- Discovery Triggers $1 Million Milestone Payment From Abbott - SALT LAKE CITY, Feb. 4 /PRNewswire-FirstCall/ -- Myriad Genetics, Inc. PR via NewsEdge Corporation : - Discovery Triggers $1 Million Milestone Payment From Abbott - SALT LAKE CITY, Feb. 4 /PRNewswire-FirstCall/ -- Myriad Genetics, Inc. (Nasdaq: MYGN), announced today the discovery of an important new gene named DEP1 that causes depression. The DEP1 gene will form the basis of a drug discovery and development program with Abbott Laboratories (NYSE: ABT), focusing on the development of an entirely new class of drugs to treat depression. The DEP1 gene discovery triggers a $1 million milestone payment to Myriad from Abbott. The DEP1 gene was discovered by genomic DNA analysis of over 400 Utah families with strong histories of major depression. Families were selected for multiple cases of major depression, which is a serious, chronic and often debilitating form of the disease, and early age at diagnosis of the disease. Three of the largest families contributing to the discovery of this gene each contained over 50 individuals with depression, all of whom participated in the study. The DEP1 gene acts in a novel pathway, not previously known to be involved in the cause of depression, and may lead to a novel class of anti-depressive therapeutics. The DEP1 pathway is independent of the pathway used by the dominant class of drugs currently used to treat depression, known as Selective Serotonin Re-uptake Inhibitors (SSRIs). "With the discovery of DEP1, Myriad and Abbott can initiate the drug development process from a strong starting point," said Peter Meldrum, President and CEO of Myriad Genetics, Inc. "We believe that the DEP1 gene and its associated pathway represent an exciting therapeutic opportunity." "We are truly delighted that Myriad has made such rapid progress on this dramatic scientific achievement," said Brian B. Spear, Ph.D., Director of Pharmacogenomics, Abbott Laboratories. "The identification of innovative new drugs for the treatment of depression is an important goal for Abbott's Neuroscience group. Abbott and Myriad scientists are working together to identify small molecule modulators of DEP1 using the state of the art drug discovery technologies available at both companies." The discovery of disease-causing genes provides an essential starting point for drug discovery, which is greatly expanded through the discovery of protein disease pathways. Using ProNet(r), Myriad's high-throughput protein interaction technology, the Company intends to identify critical protein interactions along the depression pathway. Proteins discovered in the depression pathway offer excellent opportunities as drug targets, while providing insight into the cause and possible treatment of the disease. The collaboration will focus on functional validation of these drug targets using biological analysis with innovative technologies for evaluating the importance of a particular protein in the cause of the disease. The combined use of Myriad's and Abbott's technologies provides a fast and effective means of drug target evaluation. Abbott's extensive experience in drug discovery and development should then enable rapid advancement of any product identified through the collaboration into clinical development. SSRIs include Prozac, Zoloft, and Paxil, and have rapidly become the first choice of many doctors for the treatment of depression. However, the drugs can take up to six weeks to provide relief and come with side effects. Accordingly, there is a substantial market for anti-depressant drugs and there are significant improvements possible versus current therapeutics. Myriad is pursuing a predictive medicine product from the DEP1 discovery, which could identify at-risk individuals who might then take preventive measures to avoid depression. Such a product may also prove useful in determining the class of anti-depressant used by physicians to treat diagnosed individuals as well as to differentiate the cause of depression on a medical genetic basis from the many diverse causes of the condition. Major depression affects about 12 percent of the population in the Western world at some point in life, making it one of the most common mental illnesses and the leading cause of disability worldwide. A very high proportion of sufferers remain undiagnosed and untreated. In Europe and the Unites States, sales figures indicate that as many as 100 million prescriptions are written per year, with sales growth of around 10 percent per year over the last five years. Much of this growth is due to the introduction of SSRIs, which are generally safer and better tolerated than older treatments. The SSRI class of drugs is now the most commonly prescribed type of anti-depressant with annual sales approaching $8 billion. Myriad Genetics, Inc. is a leading biopharmaceutical company focused on the development of novel healthcare products. The Company has established two wholly owned subsidiaries. Myriad Pharmaceuticals, Inc. develops and intends to market therapeutic products, and Myriad Genetic Laboratories, Inc. develops and markets proprietary predictive medicine and personalized medicine products. The Company has established strategic alliances with Abbott, Bayer, fDuPont, Eli Lilly, Hitachi, Novartis, Oracle, Pharmacia, Roche, Schering AG, Schering-Plough and Syngenta. Myriad's news and other information are available on the Company's Web site at www.myriad.com . The discussion in this news release includes forward-looking statements that are subject to certain risks and uncertainties, including statements relating to the role of the DEP1 gene in a novel pathway and its potential to lead to a novel class of anti-depressive therapeutics, the potential of the DEP1 gene and its associated pathway as an exciting therapeutic opportunity, Myriad's intent to identify critical protein interactions along the depression pathway, the focus of the collaboration between Myriad and Abbott, the ability of Abbott's experience to enable rapid advancement of products into clinical development, Myriad's pursuit of a predictive medicine product and the impact of such a product on at-risk individuals and medical diagnostics. Such statements are based on management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by forward-looking statements, including, but not limited to uncertainties as to the extent of future government regulation of Myriad Genetics' business, uncertainties as to whether Myriad Genetics and its collaborators will be successful in developing, and obtaining regulatory approval for, and commercial acceptance of, therapeutics; the risk that markets will not exist for therapeutic compounds that Myriad Genetics develops or if such markets exist, that Myriad Genetics will not be able to sell compounds, which it develops, at acceptable prices. These and other risks identified in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2002. All information in this press release is as of February 4, 2003, and Myriad undertakes no duty to update this information unless required by law. SOURCE Myriad Genetics, Inc. -0- 02/04/2003 /CONTACT: William A. Hockett, Vice President of Corporate Communications of Myriad Genetics, Inc., +1-801-584-3600, bhockett myriad.com/ /Web site: http://www.myriad.com / (MYGN ABT) CO: Myriad Genetics, Inc.; Abbott Laboratories; Myriad Pharmaceuticals, Inc.; ST: Utah IN: HEA BIO MTC SU: MW-SK -- LATU026 -- 4573 02/04/2003 06:15 EST http://www.prnewswire.com <> << Copyright ©2003 PR Newswire >>
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