Myriad Pharmaceuticals Formally Adopts Its Name Change to Myrexis, Inc. Effective July 1, 2010

Effective July 1, Myriad Pharmaceuticals, Inc. (Nasdaq:MYRX) will change its name to Myrexis, Inc.

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The name change was previously approved by the Company's shareholders at a special meeting held on April 22, 2010. The Company's Common Stock will continue to trade on the Nasdaq Global Market stock exchange under the symbol MYRX.

Myrexis was spun out of Myriad Genetics and established as an independent, publically traded company on July 1, 2009. The Company recently implemented strategic initiatives that will focus efforts on its extensive oncology pipeline and extend its estimated cash runway beyond 2013.

"We recently announced several initiatives to define our strategy as an innovative and exciting biotechnology company focused on oncology. As we firmly establish our own corporate identity, this name change is, symbolically, the final step in our separation from Myriad Genetics," commented Adrian Hobden Ph.D., President and CEO of Myrexis. "The Company recently presented promising data on Azixa in melanoma and
glioblastoma multiforme at ASCO and we look forward to reporting advances for our novel Hsp90 inhibitor, MPC-3100, and our novel Cancer Metabolism Inhibitor, MPC-9528, during the second half of the year. We believe that the progress across our entire oncology portfolio reflects Myrexis' strategy to develop cancer therapeutics that provide fundamental improvements in patient care."

The Company has three novel cancer compounds in pre-clinical and clinical development, including, Azixa(TM) which is advancing in its phase 2 clinical program and is expected to include a two-armed temozolomide combination study for the treatment of glioblastoma multiforme; MPC-3100 the Company's orally bioavailable Hsp90 inhibitor, currently in Phase 1; and MPC-9528 its novel Cancer Metabolism
Inhibitor (CMI), recently designated as an IND-candidate. The Company is actively pursuing co-development and co-commercialization partnerships for all three oncology programs. In addition, Myrexis has programs in HIV infection and autoimmune disease that are available for out-licensing.
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