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MYGN Taps Ultima Genomics' UG 100 Platform for Advanced Clinical Tests
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Myriad Genetics, Inc. (MYGN - Free Report) recently announced a joint effort with Ultima Genomics, Inc. to explore its UG 100 sequencing platform and ppmSeq technology. The collaboration will help advance the company’s ability to offer groundbreaking clinical tests in oncology and reproductive genomics.
Myriad Genetics has purchased a new UG 100 platform that will soon join other leading sequencing platforms in its new Lab of the Future facility in South San Francisco. The low-cost, low-error sequencing achievable on the UG 100 may benefit several of the company’s emerging products that require large amounts of high-fidelity sequencing data.
More on MYGN’s Latest Collaboration
With Ultima’s support, Myriad will explore the potential for the Precise MRD (Molecular Residual Disease) test to improve the performance and cost with ppmSeq on the UG 100. The Myriad Precise MRD test conducts whole-genome sequencing on two samples from cancer patients — one from a tumor and one from normal tissue — to comprehensively identify tumor-specific variants for subsequent tracking in a personalized panel.
In the reproductive health space, the company is set to launch its FirstGene Multiple Prenatal Screen, which will run the content of multiple prenatal screens via a single sequencing workflow. FirstGene also requires deep and accurate sequencing, which the UG 100 platform may be well-suited to affordably provide.
Myriad Genetics is committed to making cutting-edge genetic testing more broadly accessible and is evaluating new platforms to support this mission. It views the UG 100 as a potentially transformative platform that can provide an industrial sequencing center like the company to reduce costs, improve quality and provide deeper insights. The platform can influence how the company develops and innovates some of its promising tests like Precise MRD and FirstGene, which are soon to enter the market and support exploring new product areas that were previously difficult to pursue.
Other Developments in MYGN
Myriad Genetics was recently granted a third patent by the United States Patent and Trademark Office that will bolster its ability to deliver a tumor-informed, high-definition MRD assay to market. The development supports the company’s efforts to establish a proprietary and differentiated MRD assay that tracks up to thousands of tumor-specific variants, making it capable of detecting ctDNA (circulating tumor DNA) at lower levels than other products in the market today.
Favorable Industry Prospects for MYGN
The global genetic testing market, valued at $19.60 billion in 2023, is anticipated to expand at a compound annual rate of 11.5% through 2034, according to Precedence Research. The market’s growth is being fueled by the rising cases of chronic and genetic diseases and the introduction of innovative testing kits. Increasing government efforts to raise awareness about genetic testing are also driving its adoption worldwide.
New Updates From MYGN’s Genetic Testing Peers
Several companies in the genetic testing space are making important progress in other areas of their operations.
Labcorp (LH - Free Report) has a broad portfolio of tests and services across screening, diagnostic and drug development needs for genetic testing throughout the healthcare space. The company recently expanded its molecular bioanalytical laboratory in Greenfield, IN, to support the development of advanced cell and gene therapies and its capacity to serve biopharma customers globally. Effective Dec. 1, 2024, Labcorp will become the Blue Cross and Blue Shield of Alabama’s exclusive national laboratory in the Preferred Medical Laboratory Program and the only Preferred Medical Laboratory Plus provider in the outpatient laboratory network.
Illumina (ILMN - Free Report) , a global leader in DNA sequencing and array-based technologies, recently secured the FDA’s approval of its in vitro diagnostic TruSight Oncology Comprehensive test and first two companion diagnostic indications. The 500+ gene biomarker test advances access to localized precision oncology for patients. Following its divestiture of GRAIL, the company’s three-year financial outlook now features faster revenue growth and significant margin expansion, fueled by its core genomics portfolio. ILMN also announced a research partnership with the Broad Institute of MIT and Harvard to advance single-cell sequencing and accelerate the adoption of high-capacity single-cell experiments, leveraging Illumina's Fluent technology.
Our third and final pick is Thermo Fisher Scientific (TMO - Free Report) , which offers high-value genomic solutions in the research, clinical, healthcare and applied markets by combining a wide range of instruments and related reagents. The company recently launched the Thermo Scientific iCAP MX Series ICP-MS (plasma mass spectrometry) platform, designed to simplify trace element analysis and boost productivity. TMO expanded its oral solid dose development and manufacturing capabilities across North America to accelerate pre-clinical oral drug product innovation and advanced drug delivery.
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MYGN Taps Ultima Genomics' UG 100 Platform for Advanced Clinical Tests
Myriad Genetics, Inc. (MYGN - Free Report) recently announced a joint effort with Ultima Genomics, Inc. to explore its UG 100 sequencing platform and ppmSeq technology. The collaboration will help advance the company’s ability to offer groundbreaking clinical tests in oncology and reproductive genomics.
Myriad Genetics has purchased a new UG 100 platform that will soon join other leading sequencing platforms in its new Lab of the Future facility in South San Francisco. The low-cost, low-error sequencing achievable on the UG 100 may benefit several of the company’s emerging products that require large amounts of high-fidelity sequencing data.
More on MYGN’s Latest Collaboration
With Ultima’s support, Myriad will explore the potential for the Precise MRD (Molecular Residual Disease) test to improve the performance and cost with ppmSeq on the UG 100. The Myriad Precise MRD test conducts whole-genome sequencing on two samples from cancer patients — one from a tumor and one from normal tissue — to comprehensively identify tumor-specific variants for subsequent tracking in a personalized panel.
In the reproductive health space, the company is set to launch its FirstGene Multiple Prenatal Screen, which will run the content of multiple prenatal screens via a single sequencing workflow. FirstGene also requires deep and accurate sequencing, which the UG 100 platform may be well-suited to affordably provide.
Myriad Genetics is committed to making cutting-edge genetic testing more broadly accessible and is evaluating new platforms to support this mission. It views the UG 100 as a potentially transformative platform that can provide an industrial sequencing center like the company to reduce costs, improve quality and provide deeper insights. The platform can influence how the company develops and innovates some of its promising tests like Precise MRD and FirstGene, which are soon to enter the market and support exploring new product areas that were previously difficult to pursue.
Other Developments in MYGN
Myriad Genetics was recently granted a third patent by the United States Patent and Trademark Office that will bolster its ability to deliver a tumor-informed, high-definition MRD assay to market. The development supports the company’s efforts to establish a proprietary and differentiated MRD assay that tracks up to thousands of tumor-specific variants, making it capable of detecting ctDNA (circulating tumor DNA) at lower levels than other products in the market today.
Favorable Industry Prospects for MYGN
The global genetic testing market, valued at $19.60 billion in 2023, is anticipated to expand at a compound annual rate of 11.5% through 2034, according to Precedence Research. The market’s growth is being fueled by the rising cases of chronic and genetic diseases and the introduction of innovative testing kits. Increasing government efforts to raise awareness about genetic testing are also driving its adoption worldwide.
New Updates From MYGN’s Genetic Testing Peers
Several companies in the genetic testing space are making important progress in other areas of their operations.
Labcorp (LH - Free Report) has a broad portfolio of tests and services across screening, diagnostic and drug development needs for genetic testing throughout the healthcare space. The company recently expanded its molecular bioanalytical laboratory in Greenfield, IN, to support the development of advanced cell and gene therapies and its capacity to serve biopharma customers globally. Effective Dec. 1, 2024, Labcorp will become the Blue Cross and Blue Shield of Alabama’s exclusive national laboratory in the Preferred Medical Laboratory Program and the only Preferred Medical Laboratory Plus provider in the outpatient laboratory network.
Illumina (ILMN - Free Report) , a global leader in DNA sequencing and array-based technologies, recently secured the FDA’s approval of its in vitro diagnostic TruSight Oncology Comprehensive test and first two companion diagnostic indications. The 500+ gene biomarker test advances access to localized precision oncology for patients. Following its divestiture of GRAIL, the company’s three-year financial outlook now features faster revenue growth and significant margin expansion, fueled by its core genomics portfolio. ILMN also announced a research partnership with the Broad Institute of MIT and Harvard to advance single-cell sequencing and accelerate the adoption of high-capacity single-cell experiments, leveraging Illumina's Fluent technology.
Our third and final pick is Thermo Fisher Scientific (TMO - Free Report) , which offers high-value genomic solutions in the research, clinical, healthcare and applied markets by combining a wide range of instruments and related reagents. The company recently launched the Thermo Scientific iCAP MX Series ICP-MS (plasma mass spectrometry) platform, designed to simplify trace element analysis and boost productivity. TMO expanded its oral solid dose development and manufacturing capabilities across North America to accelerate pre-clinical oral drug product innovation and advanced drug delivery.