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2016-05-31

Myriad Genetics, Inc.: Myriad Acquires Sividon Diagnostics

Strengthens Market Leading Oncology Product Portfolio with Breast Cancer
Prognostic Test EndoPredict®

SALT LAKE CITY, May 31, 2016 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc.
(NASDAQ:MYGN), a leader in molecular diagnostics and personalized medicine,
today announced that it has acquired Sividon Diagnostics, a leading breast
cancer prognostic company, for €35 million upfront with the potential for €15
million in additional performance-based milestones. The transaction closed on
May 31, 2016. Myriad expects the deal to be neutral to both revenue and
earnings in fiscal year 2017. A discussion on the details and strategy
underlying the transaction will be provided on a conference call today at
4:30 pm EDT.

"Sividon brings to Myriad the best-in-class breast cancer prognostic test and
strengthens our market leading oncology portfolio of high value personalized
medicine products," said Mark C. Capone, president and CEO, Myriad Genetic
Laboratories. "The EndoPredict® test will be the foundational product of our
newly initiated kit-based strategy and allow Myriad to leverage its global
oncology distribution to bring this important test to patients worldwide."

"We are excited to be integrated with the global leader and pioneer in
personalized medicine," said Christoph Petry, CEO of Sividon Diagnostics.
"Myriad has the reimbursement, regulatory, and commercial expertise to make
this product very successful, especially as we seek distribution in the
United States and broader reimbursement coverage in Europe."

Sividon Diagnostics was spun out of Siemens Healthcare Diagnostics in 2010 as
part of a management buyout. Their core EndoPredict product is a kit-based
RNA expression test that evaluates 12 genes to assess the aggressiveness of
breast cancer on a molecular level. The test is currently CE Marked on the
Siemens Versant instrument, however, Myriad is transitioning the product to
the Thermo Fisher QuantStudio platform as a key step in the international kit
strategy. EndoPredict has been evaluated in 5 major studies incorporating
more than 4,000 patients, utilized on a clinical basis in over 13,000
patients worldwide, and is extensively referenced in clinical guidelines
across the globe. In a head-to-head study, it has been shown to outperform
the prognostic ability of the leading first generation test while providing
definitive answers with no intermediate results.

Benefits of the Transaction

* Synergistic Product Within the 4in6 Strategy: EndoPredict evaluates the
aggressiveness of breast cancer to help patients decide whether to safely
forgo chemotherapy and will be added into our existing oncology commercial
channel, creating significant opportunities for operating leverage.
* Substantial Market Opportunity: Myriad believes the global market
opportunity for EndoPredict is greater than $600 million with the majority
of that market existing in major European countries, Canada, and the United
States. We estimate that this market is less than 25 percent penetrated on
a global basis and EndoPredict should benefit from a significant expansion
in reimbursement in the coming years.
* Best-in-Class Product: EndoPredict has been studied in approximately 4,000
patients and utilized in over 13,000 patients, and has consistently
demonstrated the best ability to predict which patients are at low risk for
distant metastases in both node negative and node positive patients.
Additionally, the kit-based format provides unique advantages in the
marketplace and EndoPredict will be the foundational product in Myriad's
global kit-based strategy.
* Broadens Comprehensive Product Offering in Oncology: Myriad currently sells
market leading tests in oncology for hereditary cancer and companion
diagnostics. EndoPredict answers another important clinical question for
breast cancer patients by identifying which can safely forgo chemotherapy.
Oncology customers can increasingly rely on Myriad as a single source
trusted advisor answering questions across the entire continuum of care
with unmatched quality.

Financing

Myriad intends to fund the transaction entirely through cash on hand. At the
end of the fiscal third quarter Myriad had cash and cash equivalents of $286
million on hand.

Conference Call and Webcast

A conference call will be held today, Tuesday, May 31, 2016, at 4:30 p.m. EDT
to discuss Myriad's acquisition of Sividon Diagnostics. The dial-in number
for domestic callers is 1-888-224-7964. International callers may dial
1-303-223-4373. All callers will be asked to reference reservation number
21812274. An archived replay of the call will be available for seven days by
dialing 1-800-633-8284 and entering the reservation number above. The
conference call along with a slide presentation will also will be available
through a live webcast at www.myriad.com.

About Myriad Genetics

Myriad Genetics Inc., is a leading personalized medicine company dedicated to
being a trusted advisor transforming patient lives worldwide with pioneering
molecular diagnostics. Myriad discovers and commercializes molecular
diagnostic tests that: determine the risk of developing disease, accurately
diagnose disease, assess the risk of disease progression, and guide treatment
decisions across six major medical specialties where molecular diagnostics
can significantly improve patient care and lower healthcare costs. Myriad is
focused on three strategic imperatives: transitioning and expanding its
hereditary cancer testing markets, diversifying its product portfolio through
the introduction of new products and increasing the revenue contribution from
international markets. For more information on how Myriad is making a
difference, please visit the Company's website: www.myriad.com.

Myriad, the Myriad logo, BART, BRACAnalysis
, Colaris, Colaris AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary
Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice
HRD, Vectra and Prolaris are trademarks or registered trademarks of Myriad
Genetics, Inc. or its wholly owned subsidiaries in the United States and
foreign countries. MYGN-F, MYGN-G

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
relating to the acquisition of Sividon Diagnostics for €35 million upfront
with the potential for €15 million in additional performance-based
milestones; the Company's expectation that the deal to be neutral to both
revenue and earnings in fiscal year 2017; the EndoPredict test being the
foundational product of the Company's newly initiated kit-based strategy and
allowing the Company to leverage its global oncology distribution to bring
this important test to patients worldwide; the transitioning of the
EndoPredict test to the Thermo Fisher QuantStudio platform as a key step in
the international kit strategy; the EndoPredict test's outperformance in its
prognostic ability in a head-to-head study; the Company's estimate that the
EndoPredict test market is less than 25 percent penetrated on a global basis
and the EndoPredict test should benefit from a significant expansion in
reimbursement in the coming years; the EndoPredict test being the
foundational product in Myriad's global kit-based strategy; and the Company's
strategic directives under the caption "About Myriad Genetics." These
"forward-looking statements" are based on management's current expectations
of future events and are subject to a number of risks and uncertainties that
could cause actual results to differ materially and adversely from those
described or implied in the forward-looking statements. These risks include,
but are not limited to: the risk that sales and profit margins of our
existing molecular diagnostic tests and pharmaceutical and clinical services
may decline or will not continue to increase at historical rates; risks
related to our ability to transition from our existing product portfolio to
our new tests; risks related to changes in the governmental or private
insurers' reimbursement levels for our tests or our ability to obtain
reimbursement for our new tests at comparable levels to our existing tests;
risks related to increased competition and the development of new competing
tests and services; the risk that we may be unable to develop or achieve
commercial success for additional molecular diagnostic tests and
pharmaceutical and clinical services in a timely manner, or at all; the risk
that we may not successfully develop new markets for our molecular diagnostic
tests and pharmaceutical and clinical services, including our ability to
successfully generate revenue outside the United States; the risk that
licenses to the technology underlying our molecular diagnostic tests and
pharmaceutical and clinical services tests and any future tests are
terminated or cannot be maintained on satisfactory terms; risks related to
delays or other problems with operating our laboratory testing facilities;
risks related to public concern over our genetic testing in general or our
tests in particular; risks related to regulatory requirements or enforcement
in the United States and foreign countries and changes in the structure of
the healthcare system or healthcare payment systems; risks related to our
ability to obtain new corporate collaborations or licenses and acquire new
technologies or businesses on satisfactory terms, if at all; risks related to
our ability to successfully integrate and derive benefits from any
technologies or businesses that we license or acquire, including but not
limited to our acquisition of a healthcare clinic in Germany; risks related
to our projections about the potential market opportunity for our products;
the risk that we or our licensors may be unable to protect or that third
parties will infringe the proprietary technologies underlying our tests; the
risk of patent-infringement claims or challenges to the validity of our
patents; risks related to changes in intellectual property laws covering our
molecular diagnostic tests and pharmaceutical and clinical services and
patents or enforcement in the United States and foreign countries, such as
the Supreme Court decision in the lawsuit brought against us by the
Association for Molecular Pathology et al; risks of new, changing and
competitive technologies and regulations in the United States and
internationally; and other factors discussed under the heading "Risk Factors"
contained in Item 1A of our Annual report on Form 10-K for the fiscal year
ended June 30, 2016, which has been filed with the Securities and Exchange
Commission, as well as any updates to those risk factors filed from time to
time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

Media Contact:
Ron Rogers
(908) 285-0248
rrogers@myriad.com

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