Highly Accomplished Psychiatrist to Lead Company Efforts to Make GeneSight® Psychotropic Standard-of-Care in Clinical Practice
SALT LAKE CITY, Oct. 21, 2019 (GLOBE NEWSWIRE) — Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics and precision medicine, announced that it has named Mark H. Pollack, M.D., chief medical officer of Myriad Neuroscience effective Jan. 15, 2020. In this role, Dr. Pollack will lead efforts to make GeneSight standard-of-care in clinical practice. Dr. Pollack will report to Mark Verratti, president of Myriad Neuroscience.
“We are excited to welcome Dr. Pollack to Myriad. During his distinguished clinical career, Dr. Pollack has been on the forefront of medical advances in treating people with mood and anxiety disorders,” said Mr. Verratti. “He is joining us at a pivotal time when we’re working to expand access to the GeneSight test and ushering in a new era of precision medicine for people with mental illness.”
Dr. Pollack is a board-certified psychiatrist with more than 30 years of experience in clinical psychiatry and neuroscience. Most recently, he served as professor and chair of the Department of Psychiatry at Rush University Medical Center in Chicago. Prior to Rush, Dr. Pollack was a professor of psychiatry at Harvard Medical School and director of the Center for Anxiety and Traumatic Stress Disorders at Massachusetts General Hospital. He is past president of the Anxiety and Depression Association of America and served as chairman of its Scientific Advisory Board. Dr. Pollack is recognized worldwide as an expert on mental illness, lectures widely in national and international forums and has served on numerous editorial, federal and industry advisory boards to advance the field of psychiatry. He has published extensively including more than 300 journal articles, five books and 39 book chapters. Dr. Pollack received his medical degree from New Jersey Medical School in Newark, NJ and his bachelor’s degree from the University of Virginia in Charlottesville, Virginia.
“This is an exciting time to join Myriad Neuroscience as combinatorial pharmacogenomics becomes the standard-of-care to help guide physicians and improve care for people with depression,” said Dr. Pollack. “I look forward to helping Myriad Neuroscience advance the science and build upon the strong partnerships it has with the healthcare providers, advocacy organizations and payers.”
About GeneSight® Psychotropic
GeneSight Psychotropic is a pharmacogenomic test that analyzes clinically important variations in DNA. The results of the test can inform doctors about genes that may affect how their patients metabolize or respond to depression medications.
About Myriad Genetics
Myriad Genetics Inc., is a leading precision medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on five critical success factors: building upon a solid hereditary cancer foundation, growing new product volume, expanding reimbursement coverage for new products, increasing RNA kit revenue internationally and improving profitability with Elevate 2020. 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, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice HRD, EndoPredict, Vectra, GeneSight, riskScore, Prolaris, ForeSight and Prequel are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries 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 relating to expanding access to the GeneSight test; making GeneSight standard-of-care in clinical practice; and the Company’s strategic directives under the caption “About Myriad Genetics.” These “forward-looking statements” are based on management’s current 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 set forth in or implied by forward-looking statements. 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; risks related to our ability to transition from our existing product portfolio to our new tests, including unexpected costs and delays; risks related to decisions or changes in 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 and our healthcare clinic; risks related to public concern over 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; the risk that we may be unable to comply with financial operating covenants under our credit or lending agreements; the risk that we will be unable to pay, when due, amounts due under our credit or lending agreements; and other factors discussed under the heading “Risk Factors” contained in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended June 30, 2019, 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. All information in this press release is as of the date of the release, and Myriad undertakes no duty to update this information unless required by law.