Myriad reorganizes European ops, sells Endopredict business unit

Salt Lake City-based Myriad Genetics Inc., a biotechnology company specializing in genetic testing, has announced the reorganization of its European operations, putting more emphasis on its domestic business while continuing to serve key biopharma partners and patients outside the United States. As part of the reorganization, Myriad is selling its EndoPredict business segment to Eurobio Scientific, a French group in the in vitro medical diagnostics and life sciences sector. Myriad will also license to Eurobio the right to sell Myriad’s Prolaris in vitro diagnostic kits outside the U.S.

“The change in our international strategy is part of our continued effort to accelerate profitable growth while supporting our biopharma partners in the most efficient manner,” said Paul J. Diaz, president and CEO of Myriad Genetics. “By divesting the EndoPredict business to Eurobio, we believe EndoPredict and our European teammates will have more opportunities to grow, given Eurobio’s strength and presence in the European market. This will also allow Myriad to be in a better position to grow our other global businesses more efficiently through strategic partnerships, including licensing and distribution agreements.”

Myriad said the deal is subject to customary closing conditions, and it expects the transaction to close in the second or third quarter of 2024.