Labcorp Announces Expansion of Precision Oncology Portfolio to Support Pharmaceutical, Biopharma, and Clinical Research in Advancing Drug Development Programs
Portfolio expansion solidifies company's commitment to advancing cancer research and patient care
BURLINGTON, N.C., April 8, 2024 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today the strategic expansion of its precision oncology portfolio, solidifying its commitment to advancing cancer research and patient care on a global scale. The announcement underscores Labcorp's dedication to investing in scientific, diagnostic and laboratory innovations to support its pharmaceutical, biotechnology and clinical research partners in bringing groundbreaking therapies to market.
Labcorp continues to demonstrate its leadership in precision oncology by expanding its portfolio of solutions that support the development of novel therapies for oncology with the launch of its proprietary platform for molecular residual disease (MRD), Labcorp® Plasma Detect™, enhancement of its circulating tumor DNA (ctDNA) genomic profiling solution Labcorp® Plasma Complete™, and continued investment in expanding its capabilities in cell and gene therapy.
"Labcorp is at the forefront of the evolution of precision oncology, expanding the understanding and application of biomarkers, enabling innovative technologies and platforms to deliver improved genomic profiling solutions, and delivering solutions designed to improve patient outcomes," said Dr. Brian Caveney, Labcorp's chief medical and scientific officer. "Our portfolio expansion enhances our integrated services to empower our partners with the solutions and support they need to advance their development programs and make a lasting difference in patients' lives."
Introducing Labcorp Plasma Detect
Labcorp recently announced the commercial availability of Labcorp Plasma Detect, the first clinically validated, tumor-informed, whole-genome sequencing circulating tumor DNA (ctDNA) MRD solution for research and investigational use. This powerful solution identifies patients at an increased risk of recurrence after surgery or adjuvant chemotherapy (ACT) and is extensible to clinical applications and can help enhance patient outcomes through rapid, reliable analysis. Labcorp Plasma Detect validation data will be presented at the American Association for Cancer Research (AACR) annual meeting on April 9 in San Diego, California.
Enhancing Labcorp Plasma Complete
Labcorp Plasma Complete, a comprehensive next-generation sequencing (NGS)-based ctDNA genomic profiling assay, has been enhanced with matched analysis of white blood cells that enables identification of germline variants and clonal hematopoietic (CH) variants that confound most ctDNA-based profiling approaches. This research assay enables the identification of clinically relevant variants across 521 genes, including SNVs, indels, bTMB, MSI, LOH, and select amplifications and translocations.
Expanded Capabilities in Cell and Gene Therapy and Development of Antibody Drug Conjugates
Labcorp's deep scientific expertise and comprehensive solutions include specialized pre-clinical discovery, biomarker and companion diagnostics (CDx) development and post-commercialization capabilities. Within this development-to-commercialization continuum, cell and gene therapy is a growing focus of biopharma pipelines, with more than 2,000 clinical trials in cell and gene therapy globally representing approximately 20% of all biopharma drugs in the pipeline and a total global investment of $11.7 billion.
Today, Labcorp supports 100% of FDA-approved CAR T-cell therapies and more than 85% of all gene replacement therapies. Further, and with the growing interest in antibody-drug conjugates as cancer therapeutic agents to improve targeting to tumor cells, Labcorp has supported collaborations and programs that have led to 87% of approved antibody drug conjugates (ADCs), 76% of which are indicated for advanced clinical stages.
Labcorp's deep scientific, regulatory and market access expertise and substantial reach into various patient populations through an expansive diagnostic testing portfolio positions it as the laboratory partner of choice for this transformative area of medicine, enabling the acceleration of novel, advanced, and targeted therapy development, rapidly advancing patient care from day one post-approval and beyond.
To learn about Labcorp's oncology solutions, visit https://oncology.labcorp.com/biopharma-partners.
About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 67,000 employees serve clients in approximately 100 countries, provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA, and performed more than 600 million tests for patients around the world. Learn more about us at www.labcorp.com.
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SOURCE Labcorp
Media: Kimbrel Arculeo, 336-436-8263, Media@Labcorp.com; Investors: Christin O'Donnell, 336-436-5076, Investor@Labcorp.com
