MC10 announced a strategic collaboration with LabCorp. As part of the collaboration, LabCorp has also made an equity investment into MC10. The companies’ collaboration will support the adoption of MC10’s proprietary technology for use by LabCorp’s Covance Drug Development business in clinical trials and research studies, with the potential to be adapted over time for use in patient testing and monitoring.
In March of 2016, MC10 released BioStampRC, a physiological data capture system and the first product built with the company’s proprietary BioStamp Sensor technology.
LabCorp’s Covance Drug Development business is exploring opportunities to incorporate the BioStampRC system into planned clinical trials.
“Our collaboration with LabCorp focusing first on Covance, will accelerate the delivery of MC10’s innovative digital health solutions to our shared customer base in the pharmaceutical industry. We are optimistic for the growing portfolio of projects that will leverage LabCorp’s differentiated diagnostic expertise and MC10’s medical-grade wearable systems to advance our mission of reshaping healthcare with digital solutions,” Ben Schlatka, Co-Founder and Senior Vice President of Corporate Development at MC10 said.
To launch the collaboration, Covance is supporting the adoption of the BioStamp system in research studies best suited for mobile monitoring of participating subjects. Covance’s expert trial management capabilities will maximize the potential of MC10’s seamless and configurable sensor system.
“LabCorp is very excited about the potential applications for MC10’s BioStamp technology in clinical trials and research,” said William (Bill) Hanlon, Ph.D., Chief Development Officer and head of Global Regulatory Affairs for Covance. “We are confident that our collaboration with the great team at MC10 will help to bring new medicines to patients faster, advancing our mission to improve health and improve lives.”