On July 11, 2022 Labcorp (NYSE: LH), a leading global life sciences company, reported it has formed a strategic partnership with MD Anderson Cancer Center Foundation Spain, a non-profit organization whose objectives are to beat cancer and to increase accessibility of early phase oncology clinical trials (Press release, LabCorp, JUL 11, 2022, View Source [SID1234616585]). Through this collaboration, oncology clinical trials managed by Labcorp Drug Development will be prioritized and conducted at MD Anderson Cancer Center Foundation Spain, representing a new model for future trials.

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"This collaboration will help accelerate the discovery and development of cancer therapies worldwide," said Prasanth Reddy, M.D., MPH, FACP, senior vice president and oncology head at Labcorp. "Early phase clinical research in people with cancer is the first step in the regulatory approval process for new therapies, and this collaboration meets the growing demand for oncology clinical trials throughout Spain."

Early phase clinical trials of experimental oncology drugs, often referred to as Phase I or Phase Ib trials, are designed to identify the safety profile, recommended dose, schedule of administration and pharmacologic behavior of new agents or new combinations of agents.

"Having access to drugs in early development is an opportunity for patients with cancer that has metastasized to be able to benefit from the most innovative mechanisms of action in oncology, said Dr. Enrique Grande, head of MD Anderson Madrid Medical Oncology Service and head of clinical research at MD Anderson Foundation Spain. "The agreement with Labcorp allows studies of high scientific value to be concentrated at our center, thus contributing to the consolidation of the MD Anderson Cancer Center Foundation Spain and MD Anderson Madrid hospital as a European reference in the treatment of cancer patients."

The research team at MD Anderson Cancer Center Foundation Spain designs and develops clinical trials to find the best ways to prevent, diagnose and treat cancer. The Phase I Clinical Trials Unit in Madrid was established in October 2021 as a subsidiary of the prestigious MD Anderson Cancer Center in Houston, Texas. Cancer centers running these types of clinical trials can provide more potential treatment options to patients, an indicator of the quality of care available. The new unit, the largest research unit dedicated to Phase I in Spain, is staffed with highly qualified personnel to be able to offer innovative treatments in a unified, multidisciplinary facility enabling enhanced quality services and patient care.

Labcorp Drug Development offers end-to-end capabilities in oncology from research and discovery through commercialization. During the past five years, the company has been involved in 1,035 oncology studies globally involving 125,500 patients in 83 countries. This includes 444 early phase oncology clinical trials with more than 25,000 patients. Spain is the third leading country for early phase oncology trials behind the United States and the United Kingdom.