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Myriad Genetics gets $24 million from European firm for research

SHARE Myriad Genetics gets $24 million from European firm for research

Myriad Genetics Inc. announced it has received a $24 million equity investment from an unnamed European pharmaceutical company. The proceeds will be used to accelerate the development of Myriad's colon cancer therapeutic compounds and to advance the progress of its second generation proteomics technologies.

Myriad intends to invest the funds from this financing in expediting the company's therapeutic product development strategy.