Siemens and LabCorp Enter Agreement to Co-Develop Clinical Diagnostic Tests
News May 09, 2008
Siemens Healthcare and Laboratory Corporation of America® Holdings (LabCorp®) have entered a non-exclusive agreement to discuss future possibilities to co-develop new clinical diagnostic tests in the areas of companion diagnostics, metabolic syndrome, oncology and diabetes. Under the agreement, initial discussions will focus on developing new tests that could make the biggest impact to patient care.
Companion diagnostics are tests designed to identify the suitability between patients and a particular drug therapy. The tests can be used in personalized medicine to improve safety and efficacy of therapeutic drugs and in some cases, may help determine optimal dosing for individual patients.
"This agreement establishes a framework that gives both companies the opportunity to offer new diagnostic tests to laboratories, physicians and their patients more quickly and effectively than either could do alone," said Dave Hickey, senior vice president strategic planning and business development, Siemens Healthcare Diagnostics.
"Advancing health care for patients is an important commitment that we can reach through strategic relationships such as this."