Covance Inc. (NYSE: CVD), a leading provider of drug development services, announced today that it entered into a biomarker alliance and services agreement with Rules-Based Medicine, Inc. (RBM), a leading provider of multiplexed protein biomarker testing to the pharmaceutical industry.
Subject to the terms of the agreement, Covance will use RBM as its exclusive third-party provider of multiplexed protein biomarker testing services, and RBM will use Covance as its exclusive referral source for laboratory testing services.
"RBM's unique biomarker technology platform, combined with Covance's recent acquisitions and alliances in biomarkers and genomics, strengthens our ability to provide comprehensive biomarker discovery, verification, validation, and deployment in both the preclinical and clinical setting," said Deborah Tanner, Corporate Senior Vice President and President of Covance Central Laboratory Services. "These innovative technologies are critical tools for drug safety and efficacy testing, which help enable our clients to make better decisions and accelerate their drug development programs."
"Covance recognizes that our clients have an unmet need for comprehensive biomarker capabilities," said Dr. Tom Turi, Covance Vice President for Biomarkers. "Given this unmet need, and the emerging high growth biomarker services market, Covance recently established a Biomarker Center of Excellence in Greenfield, Indiana. In addition, we made a series of acquisitions and alliances in the genomics, proteomics, and biomarker testing fields that will enable us to provide our clients with the largest and most integrated biomarker capability in the CRO industry. This new alliance with RBM, combined with our purchase of Merck's gene expression laboratory in Seattle, Washington, and the purchase of a minority equity stake in Caprion Proteomics rounds out our comprehensive biomarker offering."
"Comprehensive, accurate, and reproducible biomarker testing can improve drug development programs by stratifying clinical trial subjects and providing sensitive measurements of drug safety and efficacy," said Craig Benson, RBM president and chief executive officer. "By leveraging Covance's market-leading central laboratory and world-class scientific talent, along with RBM's multiplexing capabilities and broad biomarker menu, we aim to help pharmaceutical and biotechnology companies enhance the effectiveness and success of their clinical trials."
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