Myriad Genetics
This article was originally published in The Gray Sheet
Executive Summary
Proteomics collaboration with Hitachi and Oracle may include development of diagnostics and therapeutics as well as primary goal of creating a proprietary database to be marketed to other pharmaceutical and biotechnology companies, the firm says. Valued at $185 mil., the alliance to map the human proteome in less than three years will compete with proteomics firm Celera Genomics. Myriad will contribute $82 mil. in technology to the alliance and retain a 50% stake. Electronics firm Hitachi, software company Oracle and investment banking firm Friedli Corporate Finance will contribute $85 mil. in cash, plus $18 mil. in technology