Myrexis
{{Short description |American dormant biopharmaceutical company }}
{{Infobox company
| name = Myrexis
| former_name = Myriad Pharmaceuticals
| logo =
| type = Public Company
| traded_as = {{OTC Pink |MYRX }}
| industry = Pharmaceuticals
| founded = {{Start date and age|1999}}
| founder = Spinoff from Myriad Genetics
| hq_location_city = Salt Lake City
| hq_location_country = United States
| area_served = Worldwide
| key_people = Richard B. Brewer (CEO 2012 - until his death)
| products = Cancer drugs
| num_employees =
| num_employees_year =
| website = {{URL |https://myrexis.com/ }}
}}
Myrexis is an American biopharmaceutical company based in Salt Lake City, Utah. It was focused on drug development in several areas of medicine, in particular cancer therapy and auto-immune diseases.{{cite web |url=https://www.globenewswire.com/news-release/2010/06/30/424224/11638/en/Myriad-Pharmaceuticals-Formally-Adopts-Its-Name-Change-to-Myrexis-Inc-Effective-July-1-2010.html |title=Myriad Pharmaceuticals Formally Adopts Its Name Change to Myrexis, Inc. Effective July 1, 2010 |date=June 30, 2010 |publisher=Globe News wire }}
It was developing three main cancer therapy drugs, Azixa, MPC-3100, and MPC-9528. After the failure of its most promising drug Azixa, in 2012, the company stopped all clinical trails and research and planned to be liquidated. However, instead of liquidation, the company stopped all activity and distributed most of its assets to shareholders, but continued as an entity looking for new investments.
History
The company was founded in 1999 as a spin-off from Myriad Genetics and was originally known as Myriad Pharmaceuticals.Staff (2 July 2009) [http://www.pharmaceuticalonline.com/doc.mvc/Myriad-Pharmaceuticals-Inc-Established-As-An-0001?VNETCOOKIE=NO "Myriad Pharmaceuticals, Inc. Established As An Independent Pharmaceutical Development Company"] Pharmaceutical Online, 2 July 2009. Retrieved 26 July 2014
Richard B. Brewer was its CEO from May 2012 until his death in August 2012.{{cite web|url=http://www.legacy.com/obituaries/sfgate/obituary.aspx?pid=159300001|title=Richard Brewer|work=San Francisco Chronicle|date=20 August 2012|accessdate=25 August 2012}}{{cite web|url=http://investors.myrexis.com/releasedetail.cfm?ReleaseID=700680 |title=Myrexis Announces Death of Chief Executive Officer Richard B. Brewer, Trailblazing Biotechnology Industry Veteran and Patient Advocate |publisher=Myrexis |accessdate=15 August 2012 |url-status=dead |archiveurl=https://web.archive.org/web/20121105072556/http://investors.myrexis.com/releasedetail.cfm?ReleaseID=700680 |archivedate=November 5, 2012 }}
In February 2012 the company announced they had suspended development activity on all of its clinical and preclinical programs and appointed an investment company Stifel Nicolaus Weisel to evaluate strategic alternatives.{{Cite web|last=Staff|date=|title=MYRX.PK - Myrexis Inc Profile {{!}} Reuters|url=https://www.reuters.comundefined/|access-date=2021-02-05|website=Reuters|language=en}}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} In November 2012, the board of Myrexis announced that it planned to put the company into liquidation subject to shareholder approval.Tadena, Nathalie, [https://online.wsj.com/article/BT-CO-20121109-716605.html "Myrexis Board Approves Plan to Liquidate Assets, Dissolve Company"], The Wall Street Journal, 9 November 2012. Retrieved 20 January 2013 {{dead link|date=May 2016|bot=medic}}{{cbignore|bot=medic}}{{cite news |url=https://www.fiercebiotech.com/biotech/troubled-myrexis-opts-for-liquidation-to-disburse-cash-to-shareholders |title=Troubled Myrexis opts for liquidation, to disburse cash to shareholders |date=November 12, 2012 |publisher=Fierce Biotech }}
In January 2013, the board reversed its decision, cancelled the liquidation, declared a special cash distribution to shareholders and appointed Jonathan M. Couchman (chairman of Xselos Holdings) as president and chief executive officer. The remaining members of the board then resigned.Myrexis Inc press release:[https://www.bloomberg.com/article/2013-01-23/aimQ4pUuhO70.html "Myrexis, Inc. Announces the Cancellation of Its Upcoming Shareholder Meeting"], carried by Bloomberg, 23 January 2013. Retrieved 26 July 2014