Tempus and LabCorp Announce Collaboration to Accelerate Clinical Trial Patient Participation
September 16 2020 - 6:58AM
Business Wire
Tempus, a technology company advancing precision medicine
through the practical application of artificial intelligence in
healthcare, and LabCorp (NYSE: LH), a leading global life sciences
company, today announced a collaboration with LabCorp’s drug
development business, Covance. LabCorp will participate in Tempus's
TIME Trial® Network and the companies will work together to
accelerate patient enrollment for oncology clinical trials through
an innovative, data-driven approach that aims to transform the
clinical trial model and modernize how they are designed and
executed.
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As novel therapies become increasingly targeted, identifying and
enrolling patient populations have become a significant challenge
for investigators and sites. Tempus offers a solution with its TIME
Trial Program, which uses real-time clinical and molecular data to
screen and match patients to biomarker-targeted trials.
Institutions participating in The TIME Trial Network are able to
initiate their trial on behalf of patients in as few as 10
days.
“The TIME Trial Program has achieved an unparalleled scale thus
far, with over 50 provider networks and 2,500 oncologists included
in its network,” said Kim Blackwell, Chief Medical Officer of
Tempus. “We’re excited to collaborate with LabCorp’s drug
development business, Covance, and leverage their network of
oncology sites and community physicians across the U.S., as well as
their successful track record in executing some of the country’s
most cutting-edge oncology trials. This collaboration furthers our
mission to increase trial participation and ultimately bring the
right treatment to the right patients at the right time.”
“LabCorp’s drug development business has extensive experience in
executing clinical trials and our leadership position in oncology,
coupled with Tempus’ innovative clinical trial model, provides
thousands of physicians and patients easier access to more
therapeutics,” said Dr. Paul Kirchgraber, CEO, LabCorp’s drug
development business, Covance. “With oncology patient enrollment
rates being in the single digits, it’s imperative that we find
comprehensive approaches to accelerate oncology clinical trials and
bring new treatments to patients faster. The combination of our
capabilities will increase the ability to identify patients with
specific genetic markers and link them to trial sites, thus greatly
expanding access to hard-to-find patient pools for faster
enrollment of the right patients for precision medicine oncology
clinical trials.”
To learn more about the TIME Trial Program, visit
www.tempus.com/clinical-trial-matching.
About Tempus Tempus is a technology company advancing
precision medicine through the practical application of artificial
intelligence in healthcare. With one of the world’s largest
libraries of clinical and molecular data, and an operating system
to make that data accessible and useful, Tempus enables physicians
to make real-time, data-driven decisions to deliver personalized
patient care and in parallel facilitates discovery, development and
delivery of optimal therapeutics. The goal is for each patient to
benefit from the treatment of others who came before by providing
physicians with tools that learn as the company gathers more data.
For more information, visit tempus.com.
About LabCorp LabCorp (NYSE: LH), an S&P 500 company,
is a leading global life sciences company that is deeply integrated
in guiding patient care, providing comprehensive clinical
laboratory and end-to-end drug development services. With a mission
to improve health and improve lives, LabCorp delivers world-class
diagnostics solutions, brings innovative medicines to patients
faster, and uses technology to improve the delivery of care.
LabCorp reported revenue of more than $11.5 billion in 2019. To
learn more about LabCorp, visit www.LabCorp.com, and to learn more
about LabCorp’s drug development business, Covance, visit
www.Covance.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including
but not limited to statements with respect to scientific
collaborations, customer contracts and relationships, the
anticipated benefits of such collaboration and relationships, and
the expected impact that the various collaborations and customer
relationships may have on the Company’s financial results. Each of
the forward-looking statements is subject to change based on
various important factors, many of which are beyond the Company’s
control, including without limitation, the Company’s ability to
establish and maintain strategic partnerships and other scientific
collaborations, competitive actions in the marketplace, and other
unforeseen changes and general uncertainties in the marketplace,
changes in government regulations, including healthcare reform,
customer purchasing decisions, including changes in payer
regulations or policies, adverse actions of governmental and other
third-party payers, patient safety issues, changes in testing
guidelines or recommendations. These factors, in some cases, have
affected and in the future (together with other factors) could
affect the Company’s ability to implement the Company’s business
strategy and actual results could differ materially from those
suggested by these forward-looking statements. As a result, readers
are cautioned not to place undue reliance on any of our
forward-looking statements. The Company has no obligation to
provide any updates to these forward-looking statements even if its
expectations change. All forward-looking statements are expressly
qualified in their entirety by this cautionary statement. Further
information on potential factors, risks and uncertainties that
could affect operating and financial results is included in the
Company’s most recent Annual Report on Form 10-K and subsequent
Forms 10-Q, including in each case under the heading RISK FACTORS,
and in the Company’s other filings with the SEC.
# # #
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version on businesswire.com: https://www.businesswire.com/news/home/20200916005474/en/
LabCorp Contacts: Media: Christopher Allman —
336-436-8263 Media@LabCorp.com
Investors: Clarissa Willett —
336-436-5076 Investor@LabCorp.com
Tempus Contact: Erin
Carron, Director of Communications Erin.carron@tempus.com
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