Myriad Genetics and SOPHiA GENETICS Collaborate on Liquid Biopsy Diagnostics

Innovative Collaboration Between Myriad Genetics and SOPHiA GENETICS

In an exciting development for the healthcare sector, Myriad Genetics (Nasdaq: MYGN) and SOPHiA GENETICS (Nasdaq: SOPH) have announced a strategic partnership set to transform the landscape of companion diagnostics in the field of liquid biopsy. This collaboration aims to leverage the individual strengths of each company to enhance pharmaceutical companies' capabilities through a novel global liquid biopsy companion diagnostic (CDx) offering.

The Significance of Liquid Biopsy

Liquid biopsy is gaining traction as a non-invasive method for cancer detection and treatment management. It involves analyzing biomolecules found in blood samples, offering significant advantages over traditional tissue biopsies. Patients can benefit from this innovative approach, which minimizes discomfort and improves accessibility to vital diagnostic information.

Myriad Genetics is renowned for its leadership in molecular diagnostic testing and precision medicine. The company's advanced laboratory capabilities in the U.S. will play a crucial role in supporting global testing for clinical trials. On the other hand, SOPHiA GENETICS brings to the table its expansive network of over 800 connected institutions across more than 70 countries, facilitating international deployment of this new test.

Goals of the Partnership

According to Sam Raha, President and CEO of Myriad Genetics, the primary aim of this collaboration is to enhance patient care throughout the cancer care continuum. By uniting their resources, Myriad and SOPHiA GENETICS expect to develop comprehensive CDx solutions that will not only introduce an important new product to Myriad's portfolio but will also support the growth of its CDx programs. As they navigate this partnership, both companies will prioritize positively impacting patient outcomes through these advancements in diagnostic testing.

The collaboration will initially focus on the application of MSK-ACCESS® powered with SOPHiA DDM™, an innovative liquid biopsy test designed to identify actionable genomic alterations from a single blood draw. By utilizing state-of-the-art algorithms that analyze circulating tumor DNA (ctDNA), more patients will gain access to this high-quality tumor profiling test, thereby advancing personalized healthcare on a larger scale.

Regulatory Pathways

Important to note is the different regulatory pathways that will be managed by each company; Myriad Genetics will handle submissions within the U.S., while SOPHiA GENETICS will manage submissions in other global markets. This hybrid approach is designed to maximize accessibility and compliance across multiple regions, ensuring that pharmaceutical partners can leverage the advantages of this CDx across regulated markets.

Jurgi Camblong, Co-founder and CEO of SOPHiA GENETICS, emphasized that the collaboration represents a pivotal moment in the industry. By combining the unique strengths of Myriad's specialty lab and SOPHiA's expansive testing network, they aim to not only increase access to innovative oncology testing but also establish a new hybrid model in companion diagnostics.

Looking to the Future

Both companies are set to participate in a panel discussion at the World CB and CDx Summit in Boston, where they will share additional insights regarding their collaboration and its anticipated impact on the future of cancer diagnostics.

SOPHiA GENETICS is known for its creation of a cloud-native healthcare technology platform, which is dedicated to enhancing the delivery of data-driven medicine. By harnessing AI-driven solutions, the platform seeks to enable world-class care for patients with cancer and rare disorders.

This partnership between Myriad Genetics and SOPHiA GENETICS not only represents a significant leap forward in the realm of liquid biopsy diagnostics but also the potential to shift paradigms in how precision medicine is delivered globally. It's a thrilling era for diagnostics as these two leading-edge companies pave the way for what could be a transformative approach to cancer care.