BOSTON and BURLINGTON, N.C., March
8, 2021 /PRNewswire-PRWeb/ -- PathAI, a global provider
of artificial intelligence-powered (AI-powered) technology for use
in pathology research, and Labcorp (NYSE: LH), a leading global
life sciences company, today announced the broadening of their
strategic partnership in the field of AI-powered pathology. The
collaboration builds on Labcorp's past investment in PathAI and the
companies' collaboration on a series of projects, including the
deployment of PathAI algorithms in clinical trials managed by
Labcorp Drug Development.
A key focus of the expanded collaboration will be to enable, in
prospective clinical trials of cancer and other diseases, the
seamless deployment of PathAI's algorithms in the broad portfolio
of programs managed by Labcorp Drug Development. These PathAI
algorithms are developed using Good Clinical Laboratory Practice
(GCLP) guidelines and process controls and are locked and validated
as fit for purpose; they can also be further extended to companion
diagnostic (CDx) device development and commercialization. They can
be deployed in retrospective or prospective clinical trials to
quantify tissue-based biomarkers and can support patient
stratification and selection. The algorithms have many potential
additional uses where robust deployment and data collection are
needed. Labcorp and PathAI plan to explore bridging the use of
AI-powered algorithms from translational research into a clinical
laboratory setting.
"We are very impressed with the vision that Labcorp has for the
future of AI-powered pathology in drug development and diagnostics,
and we look forward to joining forces to enable our bio-pharma
partners to obtain the most accurate, standardized, and data-rich
set of pathology readouts from clinical trials to help advance drug
development," said PathAI CEO Andy
Beck. "After exploring successful initial projects with
Labcorp, we are excited to leverage the scale of its network to
grow the reach of digital and computational pathology with the goal
of ultimately improving patient outcomes."
"It has been great working with PathAI to expand computational
pathology applications in oncology and other diseases that have
often been resistant to digitization," said Paul Kirchgraber, M.D., CEO, Labcorp Drug
Development. "This collaboration will provide our bio-pharma
partners a differentiated understanding of relevant patient
characteristics through applying leading AI-driven algorithms to
support clinical trials from novel biomarker development through
patient stratification and companion diagnostic development."
About PathAI:
PathAI is a leading provider of AI-powered research tools and
services for pathology. PathAI's platform promises substantial
improvements to the accuracy of diagnosis and the efficacy of
treatment of diseases like cancer, leveraging modern approaches in
machine and deep learning. Based in Boston, PathAI works with leading life
sciences companies and researchers to advance precision medicine.
To learn more, visit pathai.com.
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 more than
70,000 employees, we serve clients in more than 100 countries.
Labcorp (NYSE: LH) reported revenue of $14
billion in FY2020. Learn about Covance by Labcorp at
http://www.Covance.com, and Labcorp at http://www.Labcorp.com, or
follow us on LinkedIn and Twitter @Labcorp.
Labcorp 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 Labcorp's (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.
Media Contact
Isabella Canuso, PathAI, +1
6096821080, isabella.canuso@pathai.com
Christopher Allman-Bradshaw,
Labcorp, 336-436-8263, Media@Labcorp.com
Twitter
SOURCE PathAI