Former President of Moffitt Medical Group Joins Oncology Leadership Team
SALT LAKE CITY, Utah, Jan. 22, 2015 – Myriad Genetics, Inc. (NASDAQ: MYGN) today announced that Johnathan M. Lancaster, M.D., Ph.D. has joined the Company as the vice president of Medical Affairs for Oncology, Myriad Genetic Laboratories, effective Feb. 9, 2015. In this new role, Dr. Lancaster will provide medical and scientific leadership across Myriad's expanding portfolio of molecular and companion diagnostic products and services for oncology. Dr. Lancaster will report to Lloyd Sanders, general manager for the Oncology Business Unit at Myriad Genetic Laboratories.
"We are thrilled to welcome Dr. Lancaster to the Myriad team with his outstanding experience in gynecologic oncology, molecular genetics and personalized medicine," said Mark Capone, president of Myriad Genetic Laboratories. "The addition of Dr. Lancaster continues our commitment to recruit world-class talent and build a commercial team that is focused on translating our pioneering science into personalized care for patients. He is joining us at a pivotal time when we're rapidly expanding our portfolio of molecular and companion diagnostic tests in oncology."
In his new role, Dr. Lancaster will leverage his molecular genetics expertise and many years of patient care to enhance the medical value of Myriad's molecular diagnostic and companion diagnostic tests in multiple therapeutic areas including lung, colon, breast and ovarian cancer. Specifically, he will lead medical and health economic activities to support market access strategies for the Company's oncology products and professional education initiatives aimed at improving the practice and management of healthcare.
"Dr. Lancaster is a recognized healthcare leader and scientist whose research interests for the last twenty-plus years have focused on the molecular genetics of women's cancers and the development of personalized medicine strategies for treatment of malignancy," said Mr. Sanders. "He has published more than 90 peer-reviewed scholarly articles and multiple book chapters. His combination of clinical, research and molecular diagnostics expertise, coupled with his understanding of the business of medicine and the evolving value-based healthcare environment, is unique and will be a tremendous asset to our team."
"I am honored and delighted to be joining the Myriad team," said Dr. Lancaster. "It provides me with a compelling opportunity to make a difference and accelerate progress in the field of cancer research and patient care. We share a passion for personalized medicine, and I look forward to developing innovative and exciting molecular diagnostic tests that serve the needs of physicians and enhance care for patients."
Dr. Lancaster comes to Myriad with more than 20 years of experience in oncology. Over the past 12 years, he held leadership positions at Moffitt Cancer Center, including president of Moffitt Medical Group, deputy physician-in-chief, director of the Center for Women's Oncology, and chair of the Department of Women's Oncology. Before Moffitt, Dr. Lancaster was a medical director of the Gynecologic Dysplasia Clinic at Duke University Medical Center in Durham, NC, where he also completed his residency and fellowship training. He is board certified in both obstetrics and gynecology and gynecologic oncology. Dr. Lancaster received his medical and doctoral degrees in molecular genetics from the University of Wales, UK.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic company dedicated to making a difference in patients' lives through the discovery and commercialization of transformative tests to assess a person's risk of developing disease, guide treatment decisions and assess risk of disease progression and recurrence. Myriad is focused on strategic directives to grow existing markets, diversify through the introduction of new products, including companion diagnostics, as well as to expand internationally. 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, myRisk Hereditary Cancer, myChoice, myPlan Lung Cancer, BRACAnalysis CDx, HRD, Vectra and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. 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 the hiring of Dr. Johnathan M. Lancaster and the scope of his employment responsibilities; and the Company's strategic directives under the caption "About Myriad Genetics." These risks and uncertainties include, but are not limited to: the risk that sales and profit margins of our molecular diagnostic tests and pharmaceutical and clinical services may decline or will not continue to increase at historical rates; risks related to our ability to transition from our existing product portfolio to our new tests, including unexpected costs and delays; risks related to changes in the 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; risks related to public concern over our 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 decision in the lawsuit brought against us by the Association for Molecular Pathology et al; risks of new, changing and competitive technologies and regulations in the United States and internationally; and other factors discussed under the heading "Risk Factors" contained in Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2014, 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.
Executive Vice President
Myriad Genetics Inc.