Myriad Genetics Signs Definitive Agreement to Sell Myriad myPath® Melanoma, LLC, Laboratory to Castle Biosciences
SALT LAKE CITY, April 27, 2021 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, announced that it has signed a definitive agreement to sell the Myriad myPath Melanoma, LLC, Laboratory, which is the laboratory that offers the myPath Melanoma test, to Castle Biosciences for $32.5 million in cash. Castle Biosciences is a specialty laboratory focused on advanced diagnostics for dermatologic cancers.
“We are pleased to sign an agreement with Castle Biosciences that meets our objective of ensuring patients continue to have access to this important test and providing value for our shareholders,” said Paul J. Diaz, president and CEO of Myriad Genetics. “The divestiture of Myriad myPath Melanoma will allow Myriad to focus on it’s core businesses in Women’s Health, Oncology, and Mental Health and provide growth capital for future investment.”
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