Myriad Genetics, Bayer Corp. deal

The companies entered into a five-year agreement worth up to $71 million to discover genes that predispose individuals to obesity, osteoporosis and asthma. The collaboration will combine Myriad's gene discovery and characterization technology with Bayer's drug discovery, development and marketing know-how.

Myriad received a $10 million equity investment from Bayer for an undisclosed percentage of the company. Bayer (Pittsburgh) will provide an additional $25 million in research payments over the five-year period. Myriad (Salt Lake City) also can receive $36 million in milestones. ...