Leading the Way to the Future of Genetic Testing and Precision Medicine
Thirty years ago, Myriad Genetics played a pivotal role in one of the most important breakthroughs in the history of healthcare: discovering the precise location and sequence of the BRCA1 and BRCA2 genes, which increase the risk of breast cancer. This led to the emergence of genetic testing as a tool that has saved millions of lives. Now, Myriad Genetics aims to play as pivotal a role in the next 30 years of genetics and precision medicine as we did in the first 30, applying the power of data-driven genetic insights.
Fulfilling our purpose
Our purpose-led mission is clear: To advance health and wellbeing and empower every individual by revealing the answers inside each of us. We do this by providing vital insights that help people take control of their own health and enable healthcare providers to better detect, treat, and prevent disease.
The answers we reveal help illuminate the path to better health. In many ways, this has been our goal from day one.
We believe everyone should be able to benefit from an understanding of their unique genetic makeup. So we can all face the future with confidence, take the right steps to prevent disease, gain a confident diagnosis, and receive effective, personalized treatment.
The ability to proactively impact patients and accelerate the transition to a healthcare system that is patient-centered and focused on prevention and early detection is what compelled me to join Myriad Genetics. It is a passion shared by our 2,700 teammates around the world.
Trends and opportunities
Current trends reinforce the opportunity to transform healthcare and precision medicine, building on core capabilities in women’s health, oncology and mental health. These include:
– Accelerating shifts in consumer digital engagement, telehealth and virtual care
– Dramatic changes in the way outpatient care is delivered in the wake of the COVID-19 pandemic, coupled with broadened awareness of the role of diagnostic testing
– Expanding access to clinical-grade, genetic solutions for underserved populations with increased focus on disparities in healthcare outcomes and access for challenged communities
– New partnership models to advance companion diagnostics and serve patients with specific treatments based on their own genetic makeup and biology.
As a leader in genetic testing and precision medicine, we have a responsibility to expand our reach and make genetic testing more accessible to all. We believe genetic testing should be as common as a blood count, mammogram or ultrasound. Our goal is to empower patients, physicians, health systems and payer partners, with actionable data-driven insights to guide clinical decisions, improve outcomes and lower healthcare costs.
Innovation comes in many forms, from the scientific know-how embedded into our products, to the tech-enabled capabilities in our labs. It extends to online experiences and portals that make it easier to work with us. We also must innovate in other ways, including intensifying our focus on environmental, social and governance initiatives (“ESG”) as well as diversity, equity and inclusion. We must extend our reach in the healthcare ecosystem and into broader society to reduce disparities among underserved populations and across racial, social, economic lines.
Putting patients and customers first
By focusing on how we can serve them best, we are strengthening our commitment to putting patients and customers first. We have divested of non-core business areas so we can focus on three core areas where we have deep expertise.
In women’s health, we help women assess their risk of hereditary cancer, and provide genetic insights at critical moments during pregnancy or when planning a family. Our expertise in oncology provides hereditary cancer precise testing for patients who have cancer. In mental health we help physicians understand how genetic differences impact response to antidepressant and other psychotropic medications.
- Meeting the pressing need to extend genetic testing to every individual – Myriad Genetics is the first and only lab to create a hereditary cancer test that improves personalized risk prediction and removes disparities for women of all ancestries. With an inclusive approach to personalized breast cancer risk assessment, we can provide vital genetic insights for 7 million women who meet guidelines for MyRisk hereditary cancer test and are not of European descent.
- Entering into new collaborations and partnerships with other industry leaders – In partnership with Intermountain Healthcare, and supported by Illumina, we are advancing precision oncology with combined tumor profiling and companion diagnostic tools to make a meaningful difference in cancer care.
- Launching new capabilities that make pre-natal testing easier and more precise – Today, non-invasive prenatal screening and carrier screening requires a complex workflow. We are developing next generation screening tools that streamline the process for all women. Launching next year, this next-generation prenatal test combines the Prequel prenatal screen with our Foresight carrier screen, combining key benefits of both. The new test is faster and easier, accessible to more patients in less time.
- Addressing the crisis in mental health – The prevalence of depressive symptoms increased three-fold among U.S. adults in 2020, according to the CDC. Our GeneSight psychotropic test helps reduce trial and error for patients struggling to find the antidepressant medication that works for them. Building on the clinical utility of GeneSight, we are adding ADHD medications and new genes to the GeneSight test, providing an even more complete picture of patient outcomes for psychiatrists and general practitioners as they deal with a growing number of patients in need of treatment.
These are just some of the ways we are elevating our products to full potential. At the same time, we are building new tech-enabled commercial capabilities, digital portals, real-time cost estimators, streamlined ordering processes to improve the customer experience.
Illuminating the path to better health
Our work is meaningful, and we are driven by the lives we improve every day. As we transform our business and improve the way we serve our customers, we are also transforming our brand to reflect who we are and what we do.
I’m proud to reveal a new brand platform and identity that reflect our purpose-led mission of health and well-being for all. This coincides with the 30thanniversary of Myriad Genetics, and includes a new logo, and identity. Notably, we reintroduced the word “genetics’ back into our name. Our wordmark now reads “Myriad Genetics”, a clear expression of our expertise. It depicts a company that strives to be caring, human and easy to work with. The sequenced “M” embedded in our wordmark graphically represents data points that emerge from gene sequencing, and reflects our heritage and future as a leader in genetic testing and precision medicine.
Our new tagline is Health. Illuminated. Our work reveals the vital answers within each of us. We illuminate the path to better health. Our purpose is more relevant than ever. We are committed to fulfilling it – working together to uncover new opportunities, make health more precise and personal, and push the frontiers of what is possible.
Paul J. Diaz
President and CEO