NEW YORK – Myriad Genetics said Tuesday that the company is reorganizing its European operations, which includes the sale of its EndoPredict business.
As part of the reorganization, Salt Lake City-based Myriad said it has signed a definitive agreement to sell EndoPredict to French in vitro medical diagnostics firm Eurobio Scientific for an undisclosed amount. Myriad is also licensing to Eurobio the rights to sell its Prolaris IVD kits outside the US.
In the meantime, within the US, Myriad will license the rights to continue to produce and sell EndoPredict as a laboratory-developed test (LDT), as part of the company’s Precise Oncology Solutions suite of tests.
Myriad expects the deal to close in the second or third quarter of 2024.
"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," Myriad President and CEO Paul Diaz said in a statement. "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."