April 21, 2010 (FinancialWire) — Myriad Pharmaceuticals, Inc. (NASDAQ: MYRX) has terminated its merger agreement with Javelin Pharmaceuticals (AMEX: JAV).

In accordance with the terms of the merger agreement, Myriad Pharmaceuticals is entitled to the payment from Javelin of stipulated expenses of $1.5 million plus a termination fee of $2.9 million, within one business day of the termination, and in accordance with the terms of the $8.5 million loan and security agreement, is entitled to the repayment, in full, from Javelin, of the outstanding balance under the agreement, together with accrued interest thereon, within two business days of the termination.

Myriad Pharmaceuticals intends to go forward with the previously announced special meeting of shareholders on April 22 to vote on the proposal to amend the company's restated certificate of incorporation to change the name of the company to Myrexis, Inc. If the proposal is approved, the name change will be affected at a future date.

Myriad Pharmaceuticals is a biotechnology company focused on discovering, developing, and commercializing novel small molecule drugs that address severe medical conditions, including cancer and HIV infection.

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