AP NEWS

Peter D. Meldrum (1947-2018)

December 31, 2018

SALT LAKE CITY, Dec. 31, 2018 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN) today announced that the company’s former CEO Peter Durkee Meldrum, age 71, passed away on Thursday, December 20, 2018.

Pete was a co-founder of Myriad Genetics, forming the company with Dr. Mark Skolnick in 1992. Pete steered the company from its inception through its initial public offering in 1995, to a profitable company with more than 2,500 employees that provided over two million patient test results by the time of his retirement in 2015.

Under his leadership, the company made numerous important strategic and scientific achievements including the discovery of the BRCA1/2 genes; the launch of BRACAnalysis, which was the first commercial test for hereditary breast and ovarian cancer; the acquisitions of Myriad RBM and Crescendo Bioscience; and the company’s expansion outside the United States to name a few.

“We are deeply saddened by Pete’s passing,” said Mark. C. Capone, president and CEO, Myriad Genetics. “He was a scientific visionary and pioneer in the fields of personalized medicine and molecular diagnostics. He cared deeply about making a difference in patients’ lives by providing perfect test results which are values that we continue to live by every day.”

Pete was born on June 26, 1947, in Salt Lake City, Utah, the eldest son of Benjamin “Nibs” Meldrum and Grace Durkee Meldrum. He received his Bachelor of Science degree in chemical engineering from the University of Utah in 1970 and his MBA from the University of Utah in 1974. He received an honorary Doctorate of Science from Westminster College in 2004 and an honorary Doctorate of Engineering from the University of Utah in 2009.

Pete was selected by Scientific American as one of the Top 50 Scientific Visionaries in the World and was a member of the “Scientific American Thinkbank.” He was awarded the “Governor’s Medal for Science and Technology” in 1998 and received the “Mountain West Venture’s Entrepreneur of the Year Award” in 2001. He received the “Distinguished Chemical Engineer Award” from the University of Utah in 2007 and the “American Federation for Aging Research Award of Distinction” in 2008. He was inducted into the Utah Technology Council Hall of Fame in 2009.

Pete loved the arts and served on several Utah-based arts boards, including Pioneer Theatre Company and Ballet West. In 2011, he received the prestigious “Bravo Award” for his philanthropic efforts for the arts. He also served on the Boards of Westminster College Board of Trustees, the Museum of Natural History, the National Advisory Council, and Fine Arts Advisory Board of the University of Utah.

After retiring from Myriad, Pete served as executive director of The Meldrum Foundation, the family’s private charitable foundation that supports educational endeavours, artistic activities and humanitarian programs. He also served as chairman of the Board of Directors for Golden Pine Ventures, LLC, a venture capital firm focused on the development of biotechnology and biomedical companies.

“Pete’s business acumen drove our company’s growth throughout his tenure as CEO,” said John T. Henderson, M.D., chairman of the board, Myriad Genetics. “His consistent focus on the individual patient, commitment to research and strive for perfection were the cornerstones of his success and are values that we continue to cherish as a company.”

Pete was married to his wife Catherine for 48 years. He is survived by his wife, Catherine; his brother, Daniel (Patty); his son Christopher (Jenette); three grandsons, Ian, Colin, and Aidan; and multiple nephews and nieces.

About Myriad GeneticsMyriad 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 five strategic imperatives: build upon a solid hereditary cancer foundation, growing new product volume, expanding reimbursement coverage for new products, increasing RNA kit revenue internationally and improving profitability with Elevate 2020. 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, EndoPredict, Vectra, GeneSight, riskScore Prolaris, ForeSight and Prelude 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.

Media Contact: Ron Rogers Investor Contact: Scott Gleason (801) 584-3065 (801) 584-1143 rrogers@myriad.com sgleason@myriad.com

AP RADIO
Update hourly