Industry News/Joint Venture

$71 Million Agreement in Molecular Genetics Announced

Published in Gene Therapy Weekly, September 25th, 1995

Bayer Corporation, Pittsburgh, Pennsylvania, and Myriad Genetics Inc., Salt Lake City, Utah, jointly announced a five-year strategic alliance focused on the discovery of genes which predispose individuals to obesity, osteoporosis and asthma.

The collaboration will combine Myriad's strengths in gene discovery and gene characterization with Bayer's drug discovery, development and marketing expertise.

Myriad received a $10 million equity investment from Bayer and, under the terms of the agreement, will receive $25 million in research payments over the five year period. In addition, Bayer will provide Myriad with up to $36 million in milestone payments...

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Source: Gene Therapy Weekly (1995-09-25)

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