Myrexis

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.^[1]

Myrexis

Formerly	Myriad Pharmaceuticals
Company type	Public Company
Traded as	OTC Pink: /quote MYRX
Industry	Pharmaceuticals
Founded	1999; 26 years ago (1999)
Founder	Spinoff from Myriad Genetics
Headquarters	Salt Lake City , United States
Area served	Worldwide
Key people	Richard B. Brewer (CEO 2012 - until his death)
Products	Cancer drugs
Website	myrexis.com

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.^[2]

History

The company was founded in 1999 as a spin-off from Myriad Genetics and was originally known as Myriad Pharmaceuticals.^[3][1]

Richard B. Brewer was its CEO from May 2012 until his death in August 2012.^[4][5]

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.^[6] In November 2012, the board of Myrexis announced that it planned to put the company into liquidation subject to shareholder approval.^[7][2]

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.^[8]