Myriad Genetics Licenses Cancer Drug Technology to Salmedix

SALT LAKE CITY, May 24 /PRNewswire-FirstCall/ -- Myriad Genetics, Inc. (Nasdaq: MYGN), announced today that it has exclusively licensed its technology for using the single R-enantiomer of etodolac to Salmedix, Inc. for the development of cancer therapeutics. Myriad received a $2.5 million upfront payment from Salmedix and will receive milestone payments based on the achievement of developmental and commercialization objectives as well as royalties on net sales.

Myriad's technology is covered by several issued and pending patents in the United States, Europe and Japan. This intellectual property will provide additional proprietary protection to Salmedix around its clinical drug candidate SDX-101 and other potential analogs.

"We are pleased that Myriad's intellectual property will be used in a non- competitive cancer drug development program which has the potential for further returns to our shareholders in the future," said Peter Meldrum, President and Chief Executive Officer of Myriad Genetics, Inc.

SDX-101 is R-etodolac, a single enantiomer of etodolac. Etodolac is a mixture of two mirror image forms, called the R and S isomers. SDX-101, the R isomer of etodolac, preferentially induces apoptosis in malignant lymphocytes by a novel mechanism and is substantially devoid of anti- inflammatory activity. In September 2004, Salmedix initiated a Phase 2 clinical trial in which 80 patients with chronic lymphocytic leukemia will receive a standard chemotherapy regimen alone or in combination with SDX-101 for multiple cycles.

On May 12, 2005, Cephalon, Inc. (Nasdaq: CEPH) announced that it had signed a definitive merger agreement under which it will acquire all of the outstanding capital stock of Salmedix, Inc.

Myriad Genetics, Inc. is a biopharmaceutical company focused on the development of novel healthcare products. The Company develops and markets predictive medicine products, and is developing and intends to market therapeutic products. Myriad's news and other information are available on the Company's Web site at www.myriad.com.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management's current expectation and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth or implied by forward-looking statements. These include, but are not limited to, uncertainties as to the extent of future government regulation of Myriad Genetics' business; uncertainties as to whether Myriad Genetics and its collaborators will be successful in developing, and obtaining regulatory approval for, and commercial acceptance of, therapeutic compounds; the risk that markets will not exist for therapeutic compounds that Myriad Genetics develops or if such markets exist, that Myriad Genetics will not be able to sell compounds, which it develops, at acceptable prices; and the risk that the Company will not be able to sustain revenue growth for its predictive medicine business and products. These and other risks are identified in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2004. All information in this press release is as of May 24, 2005, and Myriad undertakes no duty to update this information unless required by law.