Labcorp Forms Strategic Partnership With MD Anderson Cancer Center Foundation Spain to Increase Access to Early Phase Oncology Clinical Trials

Rhea-AI Summary

Labcorp (NYSE: LH) has announced a strategic partnership with MD Anderson Cancer Center Foundation Spain to enhance oncology clinical trials. This collaboration aims to accelerate cancer therapy development by prioritizing early phase trials at MD Anderson's facilities in Spain. With over 1,000 oncology studies globally, Labcorp continues to be a leader in drug development, emphasizing the importance of Phase I trials in the therapy approval process. This partnership positions MD Anderson as a reference center in Europe for innovative cancer treatments.

Positive

• Formation of strategic partnership with MD Anderson Cancer Center Foundation Spain.
• Enhanced focus on early phase oncology trials, addressing growing demand in Spain.
• Increased opportunities for innovative cancer therapies for patients.

Negative

• None.

BURLINGTON, N.C.--(BUSINESS WIRE)-- Labcorp (NYSE: LH), a leading global life sciences company, today announced it has formed a strategic partnership with MD Anderson Cancer Center Foundation Spain, a non-profit organization whose objectives are to beat cancer and to increase accessibility of early phase oncology clinical trials. Through this collaboration, oncology clinical trials managed by Labcorp Drug Development will be prioritized and conducted at MD Anderson Cancer Center Foundation Spain, representing a new model for future trials.

“This collaboration will help accelerate the discovery and development of cancer therapies worldwide,” said Prasanth Reddy, M.D., MPH, FACP, senior vice president and oncology head at Labcorp. “Early phase clinical research in people with cancer is the first step in the regulatory approval process for new therapies, and this collaboration meets the growing demand for oncology clinical trials throughout Spain.”

Early phase clinical trials of experimental oncology drugs, often referred to as Phase I or Phase Ib trials, are designed to identify the safety profile, recommended dose, schedule of administration and pharmacologic behavior of new agents or new combinations of agents.

“Having access to drugs in early development is an opportunity for patients with cancer that has metastasized to be able to benefit from the most innovative mechanisms of action in oncology, said Dr. Enrique Grande, head of MD Anderson Madrid Medical Oncology Service and head of clinical research at MD Anderson Foundation Spain. “The agreement with Labcorp allows studies of high scientific value to be concentrated at our center, thus contributing to the consolidation of the MD Anderson Cancer Center Foundation Spain and MD Anderson Madrid hospital as a European reference in the treatment of cancer patients.”

The research team at MD Anderson Cancer Center Foundation Spain designs and develops clinical trials to find the best ways to prevent, diagnose and treat cancer. The Phase I Clinical Trials Unit in Madrid was established in October 2021 as a subsidiary of the prestigious MD Anderson Cancer Center in Houston, Texas. Cancer centers running these types of clinical trials can provide more potential treatment options to patients, an indicator of the quality of care available. The new unit, the largest research unit dedicated to Phase I in Spain, is staffed with highly qualified personnel to be able to offer innovative treatments in a unified, multidisciplinary facility enabling enhanced quality services and patient care.

Labcorp Drug Development offers end-to-end capabilities in oncology from research and discovery through commercialization. During the past five years, the company has been involved in 1,035 oncology studies globally involving 125,500 patients in 83 countries. This includes 444 early phase oncology clinical trials with more than 25,000 patients. Spain is the third leading country for early phase oncology trials behind the United States and the United Kingdom.

About Labcorp

Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With over 75,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $16 billion in FY2021. Learn more about us at www.Labcorp.com or follow us on LinkedIn and Twitter @Labcorp.

About MD Anderson Cancer Center Foundation Spain

Established in 2000, MD Anderson Cancer Center Foundation Spain is a non-profit organization whose purpose is to contribute to eradicating cancer and related diseases through research and prevention, promoting the training of students and specialists and educating the public in all aspects related to the diagnosis and treatment of the disease. To carry out this work, the Foundation promotes its own research – both basic and clinical – at MD Anderson Cancer Center Madrid. At the same time, it organizes conferences, congresses and seminars and maintains agreements with various Spanish universities for the training of future specialists in oncology from around the world. Thus, the Foundation focuses its actions on research, education and prevention. https://fundacionmdanderson.es/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220711005856/en/

Labcorp Contacts:

Media: Christopher Allman-Bradshaw — 336-436-8263

Media@Labcorp.com

Investors: Chas Cook — 336-436-5076

Investor@Labcorp.com

Source: Labcorp

FAQ

What is the purpose of Labcorp's partnership with MD Anderson Cancer Center Foundation Spain?

The partnership aims to enhance oncology clinical trials, focusing on early phase studies to accelerate cancer therapy development.

When was the Phase I Clinical Trials Unit at MD Anderson established?

The Phase I Clinical Trials Unit in Madrid was established in October 2021.

How many clinical trials has Labcorp been involved in globally?

Labcorp has been involved in over 1,035 oncology studies globally, including 444 early phase trials.

What is Labcorp's stock symbol?

Labcorp's stock symbol is LH.

How does this partnership impact cancer treatments in Spain?

The partnership aims to provide patients with access to innovative treatments and consolidate MD Anderson as a leading cancer treatment center in Europe.