Labcorp Announces Expansion of Precision Oncology Portfolio to Support Pharmaceutical, Biopharma, and Clinical Research in Advancing Drug Development Programs
- Labcorp strengthens its commitment to cancer research and patient care on a global scale.
- Labcorp expands its precision oncology portfolio with Labcorp Plasma Detect and enhances Labcorp Plasma Complete for genomic profiling.
- The company invests in cell and gene therapy, supporting FDA-approved CAR T-cell therapies and gene replacement therapies.
- Labcorp's deep scientific expertise and comprehensive solutions position it as a leader in the development of novel therapies for oncology.
- Labcorp's portfolio expansion aims to empower partners in advancing development programs and improving patient outcomes.
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The expansion of Labcorp's precision oncology portfolio, particularly with the introduction of Labcorp® Plasma Detect™ and the enhancements to Labcorp® Plasma Complete™, is a significant development in the field of cancer diagnostics and treatment. The focus on molecular residual disease (MRD) and circulating tumor DNA (ctDNA) genomic profiling is a testament to the growing importance of personalized medicine in oncology.
MRD and ctDNA are critical biomarkers in understanding cancer progression and response to therapy. MRD detection can provide insights into the minimal amount of cancer remaining post-treatment, which is pivotal for predicting relapse. The use of ctDNA for genomic profiling allows for non-invasive monitoring of tumor evolution and resistance mechanisms. Labcorp's advancements in these areas could lead to more tailored treatment plans and better patient outcomes.
Their investment in cell and gene therapy, supporting a significant portion of FDA-approved CAR T-cell and gene replacement therapies, shows a strategic positioning within a high-growth area of biopharmaceutical development. The potential for Labcorp to contribute to the acceleration of novel therapies into the market is substantial, given their comprehensive solutions from discovery to post-commercialization.
From a market perspective, Labcorp's strategic move to enhance its oncology portfolio aligns with the industry's trajectory towards precision medicine. The global precision oncology market is expected to grow significantly, driven by technological advancements and the increasing prevalence of cancer. Labcorp's proprietary platforms and expanded capabilities place it well within this lucrative market segment.
Their support of a large percentage of FDA-approved therapies indicates a strong competitive position. With the oncology diagnostics and therapeutics market being highly competitive, Labcorp's continuous investment and innovation could result in increased market share and strengthened partnerships with key stakeholders in the pharmaceutical and biotechnology sectors.
Furthermore, Labcorp's ability to support the entire development-to-commercialization continuum for therapies could make it an indispensable partner for companies looking to expedite the delivery of cancer treatments. This could lead to long-term revenue growth and an enhanced reputation as a leader in the precision oncology space.
Labcorp's announcement of portfolio expansion has potential implications for their financial performance and attractiveness to investors. The development of advanced diagnostic tools like Labcorp® Plasma Detect™ and the enhancement of existing solutions such as Labcorp® Plasma Complete™ can lead to new revenue streams through research collaborations and clinical applications.
The investment in cell and gene therapy capabilities, an area with significant capital inflow and a large number of ongoing clinical trials, suggests that Labcorp is targeting future growth markets. Their existing support for a majority of FDA-approved therapies could translate into a stable and growing income source as these therapies gain wider adoption.
However, investors will need to consider the R&D and operational costs associated with such expansions, as well as the time required to realize returns on these investments. The long-term benefits could be substantial, but they come with the risk inherent in the highly regulated and competitive healthcare market.
Portfolio expansion solidifies company's commitment to advancing cancer research and patient care
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
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
Today, Labcorp supports
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
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