Myriad, Hitachi, Oracle & Friedli Join Forces to Map the Entire Human Proteome

- $185 Million Collaboration to Determine All Human Protein Interactions

And Decipher Biochemical Pathways -



- Webcast of Conference Call to Be Available at 10:00am Eastern Today,

See Below -



Apr 04, 2001, 01:00 ET from Myriad Genetics, Inc.

    SALT LAKE CITY, TOKYO, and REDWOOD SHORES, Calif., April 4 /PRNewswire/ --
 Myriad Genetics, Inc. (Nasdaq:   MYGN), Hitachi, Ltd. (NYSE:   HIT) and Oracle
 (Nasdaq:   ORCL), today announced that they have formed a landmark alliance to
 map the human proteome in less than three years.  The collaboration will
 combine Myriad's proteomics expertise with the leading information and
 electronics technologies of Hitachi and the leading software capabilities of
 Oracle, to analyze all proteins and their interactions within cells of the
 body.  The alliance partners expect to collect this information in a
 proprietary database of all human protein interactions, all biochemical
 pathways and a comprehensive catalog of purified proteins by 2004.
     The collaboration, valued at $185 million, will take place within the
 newly formed Myriad Proteomics, Inc., a 50% owned subsidiary of Myriad
 Genetics.  Myriad Proteomics will market its proprietary database and set of
 proteomic materials to pharmaceutical and biotechnology companies for
 therapeutic and diagnostic product development.
     "Bringing together these three powerhouse companies to map the human
 proteome will lead to the understanding of the molecular basis of protein
 function and dysfunction, creating unprecedented opportunities for
 pharmaceutical development," said Peter Meldrum, President and Chief Executive
 Officer of Myriad Genetics, Inc.  "This project represents a bold leap toward
 the future of drug development through a substantial commitment to discovering
 the molecular basis of disease in order to create safer, more effective
 therapeutics."
     As the human genome is being completed and annotated, proteomics is
 assuming the leading role in determining the cause of disease, driving
 advances in disease prevention and treatment.  The knowledge of protein
 interactions and biochemical pathways that will be revealed with Myriad's
 technologies will play a pivotal role in identifying factors that contribute
 to disease onset, and thereby provide ideal targets to interrupt the disease
 process or potentially, to prevent disease altogether.
     "This project will generate a massive amount of information about the
 human proteome, and Oracle's database will store, analyze and distribute all
 of it," said Larry Ellison, Chief Executive Officer of Oracle.  "We look
 forward to participating in this remarkable collaboration and extending
 Oracle's strong position in the life sciences industry."
     To achieve its objective, Myriad will apply two complementary proteomic
 technologies.  The company will use its proprietary ProNet(R) protein
 interaction technology, which is an industrialized high-throughput version of
 the yeast two-hybrid system, and ProSpec(TM), a proprietary mass spectrometric
 technology for the identification of protein complexes, and is ideally suited
 to identify proteins in complexes even if those proteins undergo secondary
 changes after they are expressed in the cell.  Combining these complementary
 technologies is necessary in order to identify all human protein interactions
 and biochemical pathways.  Both the ProNet(R) and ProSpec(TM) technologies
 will be applied in a non-directed fashion or "shotgun approach," which, due to
 its rapid and randomized nature, is the most efficient means to achieve an
 undertaking of this magnitude.
     Myriad Genetics will contribute technology valued at $82 million to the
 alliance. Hitachi, Oracle and Friedli Corporate Finance of Zurich,
 Switzerland, will contribute a combined $85 million in cash, plus $18 million
 in technology to be used in the collaboration.
     "The strategic alliance with Myriad Genetics and Oracle is a major
 milestone in Hitachi's aggressive commitment to its emerging life sciences
 business.  This endeavor, in addition to the ongoing collaboration with Myriad
 Genetics on ProNet(R) technology, strengthens Hitachi's presence in the
 proteomics fields," said Hiroya Taguchi, Chief Executive Officer of the Life
 Science Group at Hitachi, Ltd.  "Integrated platforms comprising cluster
 servers, storage and network systems provided from Hitachi ensure the
 establishment of a reliable and productive IT infrastructure for this
 proteomics alliance."
     Myriad, Hitachi and Oracle intend to generate the full complement of
 expressed human proteins in a purified form.  This collection will become an
 excellent resource to undertake structural biology studies such as X-ray
 crystallography and 2D-NMR with an aim to identify protein domains of
 biological and therapeutic significance.  The availability of such structural
 information will allow Myriad to match the chemical diversity of available
 compounds with the novel therapeutically relevant proteins, leading to the
 pursuit of chemi-proteomic strategies that will enable the design of novel
 therapeutic compounds in the context of relevant structural information.
     Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's
 leading global electronics companies, with fiscal 1999 (ended March 31, 2000)
 consolidated sales of 8,001 billion yen ($71.4 billion, at an exchange rate of
 112 yen to the dollar).  The company manufactures and markets a wide range of
 products, including computers, semiconductors, consumer products and power and
 industrial equipment.  For more information on Hitachi, Ltd., please visit
 Hitachi's Web site at http://global.hitachi.com.
     Oracle provides the software that powers the Internet.  For more
 information about Oracle, please call (650) 506-7000 or visit Oracle on the
 web at http://www.oracle.com.
     Friedli Corporate Finance is a leading Swiss high-tech investment banking
 firm and the Investment Manager of New Venturetec, a Swiss publicly traded
 investment company.  Please visit www.newventuretec.com.  Friedli Corporate
 Finance has been an investor in Myriad since the start of its operations and
 still is a shareholder of Myriad.  Visit our Web site at
 http://www.newventuretec.com
     Myriad Genetics, Inc. is a biopharmaceutical company focused on the
 development of novel therapeutic products derived from its proprietary genomic
 and proteomic technologies.  The Company has established two wholly owned
 subsidiaries.  Myriad Pharmaceuticals, Inc. develops and intends to market
 therapeutic compounds, and Myriad Genetic Laboratories, Inc. develops and
 markets proprietary predictive medicine and personalized medicine products.
 The Company has established strategic alliances with Bayer, Eli Lilly,
 Hitachi, Novartis, Pharmacia, Roche, Schering AG and Schering-Plough.
     The discussion in this news release includes forward-looking statements
 that are subject to certain risks and uncertainties, including statements
 regarding the ability of Myriad Proteomics to map the entire human proteome in
 less than three years, the opportunities for pharmaceutical development that
 might be created, and the effect of and role in disease understanding and
 prevention that will result from the knowledge that will be generated by
 Myriad Proteomics.  Such statements are based on management's current
 expectations that are subject to risks and uncertainties that could cause
 actual results to differ materially from those set forth or implied by
 forward-looking statements, including, but not limited to uncertainties as to
 the extent of future government regulation of Myriad Genetics' or Myriad
 Proteomics' business, uncertainties as to whether Myriad Genetics or Myriad
 Proteomics and its collaborators will be successful in developing, and
 obtaining regulatory approval for, and commercial acceptance of, therapeutics;
 the risk that markets will not exist for therapeutic compounds that Myriad
 Genetics or Myriad Proteomics develops or if such markets exist, that Myriad
 Genetics or Myriad Proteomics will not be able to sell compounds, which it
 develops, at acceptable prices.
 
     Webcast/Conference Call Information
     A real-time audiostream Webcast with executives from Myriad, Hitachi and
 Oracle has been arranged to discuss this landmark alliance in proteomics.
 
     Time: Wednesday, April 4, 2001, 10:00 a.m. Eastern time at:
 http://www.vcall.com/NASApp/VCall/EventPage?ID=71761
     Please log on to the Internet at www at least 10 minutes prior to the call
 to ensure adequate time to register and log on.
     This release and additional information, including backgrounders and FAQ,
 is available on the Web at www.myriad.com.
 
 

SOURCE Myriad Genetics, Inc.
    SALT LAKE CITY, TOKYO, and REDWOOD SHORES, Calif., April 4 /PRNewswire/ --
 Myriad Genetics, Inc. (Nasdaq:   MYGN), Hitachi, Ltd. (NYSE:   HIT) and Oracle
 (Nasdaq:   ORCL), today announced that they have formed a landmark alliance to
 map the human proteome in less than three years.  The collaboration will
 combine Myriad's proteomics expertise with the leading information and
 electronics technologies of Hitachi and the leading software capabilities of
 Oracle, to analyze all proteins and their interactions within cells of the
 body.  The alliance partners expect to collect this information in a
 proprietary database of all human protein interactions, all biochemical
 pathways and a comprehensive catalog of purified proteins by 2004.
     The collaboration, valued at $185 million, will take place within the
 newly formed Myriad Proteomics, Inc., a 50% owned subsidiary of Myriad
 Genetics.  Myriad Proteomics will market its proprietary database and set of
 proteomic materials to pharmaceutical and biotechnology companies for
 therapeutic and diagnostic product development.
     "Bringing together these three powerhouse companies to map the human
 proteome will lead to the understanding of the molecular basis of protein
 function and dysfunction, creating unprecedented opportunities for
 pharmaceutical development," said Peter Meldrum, President and Chief Executive
 Officer of Myriad Genetics, Inc.  "This project represents a bold leap toward
 the future of drug development through a substantial commitment to discovering
 the molecular basis of disease in order to create safer, more effective
 therapeutics."
     As the human genome is being completed and annotated, proteomics is
 assuming the leading role in determining the cause of disease, driving
 advances in disease prevention and treatment.  The knowledge of protein
 interactions and biochemical pathways that will be revealed with Myriad's
 technologies will play a pivotal role in identifying factors that contribute
 to disease onset, and thereby provide ideal targets to interrupt the disease
 process or potentially, to prevent disease altogether.
     "This project will generate a massive amount of information about the
 human proteome, and Oracle's database will store, analyze and distribute all
 of it," said Larry Ellison, Chief Executive Officer of Oracle.  "We look
 forward to participating in this remarkable collaboration and extending
 Oracle's strong position in the life sciences industry."
     To achieve its objective, Myriad will apply two complementary proteomic
 technologies.  The company will use its proprietary ProNet(R) protein
 interaction technology, which is an industrialized high-throughput version of
 the yeast two-hybrid system, and ProSpec(TM), a proprietary mass spectrometric
 technology for the identification of protein complexes, and is ideally suited
 to identify proteins in complexes even if those proteins undergo secondary
 changes after they are expressed in the cell.  Combining these complementary
 technologies is necessary in order to identify all human protein interactions
 and biochemical pathways.  Both the ProNet(R) and ProSpec(TM) technologies
 will be applied in a non-directed fashion or "shotgun approach," which, due to
 its rapid and randomized nature, is the most efficient means to achieve an
 undertaking of this magnitude.
     Myriad Genetics will contribute technology valued at $82 million to the
 alliance. Hitachi, Oracle and Friedli Corporate Finance of Zurich,
 Switzerland, will contribute a combined $85 million in cash, plus $18 million
 in technology to be used in the collaboration.
     "The strategic alliance with Myriad Genetics and Oracle is a major
 milestone in Hitachi's aggressive commitment to its emerging life sciences
 business.  This endeavor, in addition to the ongoing collaboration with Myriad
 Genetics on ProNet(R) technology, strengthens Hitachi's presence in the
 proteomics fields," said Hiroya Taguchi, Chief Executive Officer of the Life
 Science Group at Hitachi, Ltd.  "Integrated platforms comprising cluster
 servers, storage and network systems provided from Hitachi ensure the
 establishment of a reliable and productive IT infrastructure for this
 proteomics alliance."
     Myriad, Hitachi and Oracle intend to generate the full complement of
 expressed human proteins in a purified form.  This collection will become an
 excellent resource to undertake structural biology studies such as X-ray
 crystallography and 2D-NMR with an aim to identify protein domains of
 biological and therapeutic significance.  The availability of such structural
 information will allow Myriad to match the chemical diversity of available
 compounds with the novel therapeutically relevant proteins, leading to the
 pursuit of chemi-proteomic strategies that will enable the design of novel
 therapeutic compounds in the context of relevant structural information.
     Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's
 leading global electronics companies, with fiscal 1999 (ended March 31, 2000)
 consolidated sales of 8,001 billion yen ($71.4 billion, at an exchange rate of
 112 yen to the dollar).  The company manufactures and markets a wide range of
 products, including computers, semiconductors, consumer products and power and
 industrial equipment.  For more information on Hitachi, Ltd., please visit
 Hitachi's Web site at http://global.hitachi.com.
     Oracle provides the software that powers the Internet.  For more
 information about Oracle, please call (650) 506-7000 or visit Oracle on the
 web at http://www.oracle.com.
     Friedli Corporate Finance is a leading Swiss high-tech investment banking
 firm and the Investment Manager of New Venturetec, a Swiss publicly traded
 investment company.  Please visit www.newventuretec.com.  Friedli Corporate
 Finance has been an investor in Myriad since the start of its operations and
 still is a shareholder of Myriad.  Visit our Web site at
 http://www.newventuretec.com
     Myriad Genetics, Inc. is a biopharmaceutical company focused on the
 development of novel therapeutic products derived from its proprietary genomic
 and proteomic technologies.  The Company has established two wholly owned
 subsidiaries.  Myriad Pharmaceuticals, Inc. develops and intends to market
 therapeutic compounds, and Myriad Genetic Laboratories, Inc. develops and
 markets proprietary predictive medicine and personalized medicine products.
 The Company has established strategic alliances with Bayer, Eli Lilly,
 Hitachi, Novartis, Pharmacia, Roche, Schering AG and Schering-Plough.
     The discussion in this news release includes forward-looking statements
 that are subject to certain risks and uncertainties, including statements
 regarding the ability of Myriad Proteomics to map the entire human proteome in
 less than three years, the opportunities for pharmaceutical development that
 might be created, and the effect of and role in disease understanding and
 prevention that will result from the knowledge that will be generated by
 Myriad Proteomics.  Such statements are based on management's current
 expectations that are subject to risks and uncertainties that could cause
 actual results to differ materially from those set forth or implied by
 forward-looking statements, including, but not limited to uncertainties as to
 the extent of future government regulation of Myriad Genetics' or Myriad
 Proteomics' business, uncertainties as to whether Myriad Genetics or Myriad
 Proteomics and its collaborators will be successful in developing, and
 obtaining regulatory approval for, and commercial acceptance of, therapeutics;
 the risk that markets will not exist for therapeutic compounds that Myriad
 Genetics or Myriad Proteomics develops or if such markets exist, that Myriad
 Genetics or Myriad Proteomics will not be able to sell compounds, which it
 develops, at acceptable prices.
 
     Webcast/Conference Call Information
     A real-time audiostream Webcast with executives from Myriad, Hitachi and
 Oracle has been arranged to discuss this landmark alliance in proteomics.
 
     Time: Wednesday, April 4, 2001, 10:00 a.m. Eastern time at:
 http://www.vcall.com/NASApp/VCall/EventPage?ID=71761
     Please log on to the Internet at www at least 10 minutes prior to the call
 to ensure adequate time to register and log on.
     This release and additional information, including backgrounders and FAQ,
 is available on the Web at www.myriad.com.
 
 SOURCE  Myriad Genetics, Inc.