Myriad to establish new Walter Gilbert Research and Innovation Center

Company also cited among 2022 Top Workplaces USA National List by Energage

SALT LAKE CITY, March 08, 2022 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ:MYGN), a leader in genetic testing and precision medicine, has been recognized on Fast Company's annual list of the World's Most Innovative Companies for 2022. The list honors businesses that are making the biggest impact in their industries, providing a roadmap for the future of innovation across dynamic sectors of the economy.

Myriad placed in the top 10 in the highly competitive Biotech category which recognizes the most innovative scientific laboratories, pharmaceutical, genetics and bio-based health tech companies. Myriad was selected for scientific innovation and tech-enabled capabilities designed to improve patient outcomes, expand access to genetic testing and advance health equity.

Last year, Myriad shared data resulting from a scientific study of 275,000 women, validating personalized polygenic breast cancer risk assessments for women of all ancestries. This enabled Myriad's MyRisk™ Hereditary Cancer Test with RiskScore® -- previously validated to predict breast cancer risk in women of European descent -- to deliver genetic insights for women of all ancestries. Myriad also partnered with healthcare leaders to develop a comprehensive suite of precision oncology solutions, including its new Precise™ tumor test launching this month.

"The Fast Company recognition reflects the dedication of our more than 2,300 Myriad teammates who fulfill our mission of advancing health and well-being for all," said Paul J. Diaz, President and CEO, Myriad Genetics. "We're honored to be included among those who are advancing social justice through scientific, technological and commercial innovation. For more than 30 years, innovation has been part of our DNA. As we focus on the future, this recognition shows innovation is still at the core of who we are and what we do."

New Walter Gilbert Research and Innovation Center

Myriad Genetics simultaneously announced it will expand its lab of the future in South San Francisco to the new Nexus on Grand biotech center slated for completion next year. The new Myriad facility will be named the "Walter Gilbert Research and Innovation Center" for Dr. Gilbert's pioneering scientific work in precision medicine.

Dr. Gilbert is a Myriad co-founder and retired board member who won the Nobel Prize for contributions to the development of DNA sequencing. The new lab incorporates advanced robotics, data analytics and instrumentation customized to process clinical samples and deliver more accurate and timely precision medicine. Myriad plans to extend these capabilities and make additional investments in its Salt Lake City and Mason, OH labs in 2023. To learn more about innovation at Myriad, visit www.myriad.com/innovation.

Top Place to Work

Myriad Genetics was also recently named among the Top Places to Work in Energage's 2022 Top Workplaces USA National list. The employer recognition program recognizes organizations across the country that have built exceptional workplace cultures.

"Throughout the pandemic, our Myriad teammates together with tens of thousands of doctors, nurses, genetic counselors, nurse practitioners and other healthcare workers, demonstrated courage and determination in one of the most difficult environments any of us has ever seen," said Diaz. "Despite the unprecedented stress and pressure of the past two years, our teammates showed their passion for serving the patients and healthcare providers who rely on us. We owe them, our customers and everyone in the healthcare community our deepest gratitude."

For more information on careers at Myriad, visit https://myriad.com/working-at-myriad/joining-the-myriad-team/.

About Myriad Genetics

Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad discovers and commercializes genetic tests that determine the risk of developing disease, assess the risk of disease progression, or guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.

Myriad, the Myriad logo, BRACAnalysis, BRACAnalysis CDx, Colaris, Colaris AP, MyRisk, Myriad MyRisk, MyRisk Hereditary Cancer, MyChoice CDx, Prequel, Prequel with Amplify, Amplify, Foresight, Precise, FirstGene, Health.Illuminated., RiskScore, Prolaris, GeneSight, and EndoPredict are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries.

Safe Harbor Statement Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the launch of the company's new Precise tumor test, the expansion of the company's lab of the future to the new Nexus on Grand biotech center slated for completion next year, the company's plans to extend certain capabilities and make additional investments in its Salt Lake City and Mason, OH labs in 2023, and the company's strategic imperatives under the caption "About Myriad Genetics." These "forward-looking statements" are management's present expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to: uncertainties associated with COVID-19, including its possible effects on the company's operations and the demand for its products and services; risks related to the company's ability to efficiently and flexibly manage its business amid uncertainties associated with COVID-19; the risk that sales and profit margins of the company's existing molecular diagnostic tests may decline or that the company may not be able to operate its business on a profitable basis; risks related to the company's ability to generate sufficient revenue from its existing product portfolio or in launching and commercializing new tests; risks related to changes in governmental or private insurers' coverage and reimbursement levels for the company's tests or the company's ability to obtain reimbursement for its new tests at comparable levels to its existing tests; risks related to increased competition and the development of new competing tests and services; the risk that the company may be unable to develop or achieve commercial success for additional molecular diagnostic tests in a timely manner, or at all; the risk that the company may not successfully develop new markets for its molecular diagnostic tests, including the company's ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying the company's molecular diagnostic tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating and constructing the company's laboratory testing facilities; risks related to public concern over genetic testing in general or the company's 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 the company's ability to obtain new corporate collaborations or licenses and acquire new technologies or businesses on satisfactory terms, if at all; risks related to the company's ability to successfully integrate and derive benefits from any technologies or businesses that it licenses, acquires or develops; risks related to the company's projections about the potential market opportunity for the company's current and future products; the risk that the company or its licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying the company's tests; the risk of patent-infringement claims or challenges to the validity of the company's patents; risks related to changes in intellectual property laws covering the company's molecular diagnostic tests, or patents or enforcement, in the United States and foreign countries; risks related to security breaches, loss of data and other disruptions, including from cyberattacks; risks of new, changing and competitive technologies and regulations in the United States and internationally; the risk that the company may be unable to comply with financial operating covenants under the company's credit or lending agreements; risks related to the material weaknesses related to the company's quarterly income tax provision process and general information technology controls, including the impact thereof and the company's remediation plan, and its ability to achieve and maintain effective disclosure controls and procedures and internal control over financial reporting; risks related to current and future lawsuits, including product or professional liability claims; and other factors discussed under the heading "Risk Factors" contained in Item 1A of the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 25, 2022, as well as any updates to those risk factors filed from time to time in the company's Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

Myriad Genetics Named to Fast Company's Annual List of World's Most Innovative Companies