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Ciba/Myriad Genetics cardiovascular gene discovery collaboration worth up to $60 mil.

Executive Summary

CIBA $60 MIL. AGREEMENT WITH MYRIAD GENETICS FOR CARDIOVASCULAR gene discovery involves $32 mil. in equity and research funding for the Salt Lake City molecular genetics firm, the companies announced May 1. The amount of equity, not disclosed by the companies, represents less than a 10% interest in Myriad. Ciba receives worldwide exclusive rights to all cardiovascular therapeutic products emerging from the collaboration in exchange for $28 mil. in milestone payments and royalties.
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