BioForward is reaching out to members to highlight their organizations through a new member profile feature to tell more of their stories. Labcorp agreed to be interviewed as a part of our efforts to heighten the awareness of our region and integrated health solutions approach.
About your organization: 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.
Labcorp Drug Development provides comprehensive drug development solutions for a range of industries. Our services cover the preclinical, clinical and post-market phases of drug development, the product life cycles for medical device and diagnostics and development services paired with regulatory support for the chemical testing and crop protection industries.
A core focus area across Labcorp is oncology, and from 2015-2020 we collaborated with our clients on 95% of the novel oncology drugs approved by the FDA. In 2020 alone we supported:
Learn more about Labcorp Drug Development at www.drugdevelopment.labcorp.com, and follow us on LinkedIn.
What do you find valuable about being a member of BioForward Wisconsin?
BioForward provides our company access to the broad and growing biohealth and biotech communities across Wisconsin. We participate in a number of BioForward Action and Networking Groups—Human Resource Initiative, Women in Biohealth, Talent Action Group, the annual members meeting—and the annual Wisconsin Biohealth Summit, which offer employees fantastic networking opportunities. We are a tight community, sharing talent, resources, and during the early days of the COVID-19 pandemic, ideas to address issues locally.
What are the key areas of or achievements by your organization that are impacting the state of Wisconsin and the overall biohealth industry?
The COVID-19 pandemic exemplified Labcorp’s mission to improve health and improve lives, and drove an enhanced sense of urgency across the organization. We were the first commercial laboratory to launch an FDA Emergency Use Authorization test for COVID-19 in the first week of March 2020, and to date we have performed over 50 million tests. Labcorp Drug Development has been involved in the preclinical and clinical testing of a number of COVID-19 treatments and vaccines. Beyond COVID, our focus in Madison is supporting the development of novel drugs and therapies, and contributing to the robust biotech community throughout Wisconsin.
What about the future of research, medical, technological innovation excites you the most?
The potential that we see in regenerative medicines (i.e., cell and gene therapies) is exciting and innovative. We are working side-by-side with companies that are developing personalized medicines that have a huge impact on human health and the healthcare system. While we have been contributing to this field for some time, first in ocular therapeutics and now in oncology and other therapeutic indications, we are starting to see these therapies approved and in use. We are in the process of expanding our Madison facility to include a space dedicated to these therapies. This ABSL2 space includes a specialized lab for cell/gene preparation, a surgical suite that allows us to perform preclinical studies that require stereotaxic administration of therapies, and the potential for MRI-guided dosing. This is just one of the many areas of medical research that makes Labcorp Drug Development an exciting place to work.
Why Wisconsin? What does Wisconsin (and/or Madison/Milwaukee) offer for your company and/or your/its families?
We have a saying, ‘if you can get people to Wisconsin and the Madison area, you will have geographical hostages. Folks that come don’t want to leave!’ Madison is special. It has all of the amenities of a big city (state capital, university, music, theater, restaurants, zoo, parks and green space everywhere), but is condensed enough that you can live in the city, suburbs, or the woods and still be within 30 minutes of the lab. The Madison area is great for families, with excellent schools and opportunities for children of all ages. There are bike paths everywhere—we’ve had a few folks bike to work up to 10 miles without having to ride on a main road. The area is Midwest friendly, and genuinely welcomes new folks to the community. Regardless of your interests, you will find it here!
What would you recommend about or say to others about Wisconsin’s biohealth industry and research institutions?
Wisconsin’s biohealth industry is innovative, strong, and growing. With an incredibly low unemployment rate, skilled and unskilled jobs are plentiful. We are no longer the best kept secret, we are an incredible opportunity waiting to welcome you.
What is one thing others may not know about your organization?
We have historically kept a low profile in Madison, and many local residents don’t realize the scope of research we conduct here (and around the world). The Madison campus encompasses over 1 million gross square feet and employs over 1,500 people, including more than 60 PhDs. We conduct nonclinical toxicology, drug metabolism, and bioanalytical chemistry studies, as well as operate a Phase I clinical research unit. Working with our clients, we support the development of pharmaceutical, crop protection and chemical products.