About the Labcorp Venture Fund

Investment Thesis

The Labcorp Venture Fund invests in companies directly related to Labcorp’s primary clinical laboratory diagnostics and drug development businesses as well as companies in adjacent or complementary areas. Rationale for investment includes:

  •  Strategic ROI and potential for attractive financial return; historical gains are reinvested to fund future opportunities
  •  Companies operating in areas of strategic interest that Labcorp wants to learn more about or could potentially enter in the future
  •  Companies working on concepts with the potential to transform areas of Labcorp's business
  •  Assets Labcorp has an interest in potentially owning, licensing, or using as the foundation to form a joint venture
  •  Existing partners where Labcorp wants to have a proprietary position in a relationship, offer a new capability, or share in the success of products and services it helped bring to market

Top Strategic Priorities:

Transition to a Data-Driven Drug Development Process

  • Clinical trials are increasing in complexity, with greater competition for patients and investigators
  • Growing need for scalable, innovative tools and processes to initiate and manage trials

Capitalize on the Growing Importance
of the Consumer

  • Patients have an increased interest in and influence over healthcare decision-making
  • Technological advances are driving expectation of convenience across all industries

Deliver Upon the Goal of
Value-Based Care

  • Stakeholders aim to reduce the overall cost of care and improve efficiency in delivery of care
  • Increased provider demand for advanced tools and analytics that deliver better outcomes via personalized medicine and population health

Funding Characteristics

Investments are typically early stage (Series A or Series B). Labcorp’s typical initial investment is $500K-$2M, reserving up to $5M for follow-on investment. Labcorp typically does not lead financing rounds, but prefers to co-invest with an institutional or strategic lead.

Labcorp Venture Fund Strategic Differentiators

Access to Scientific, Technical & Commercial Expertise

  • Menu of nearly 5K clinical laboratory tests with the ability to enable research access to samples
  • 40+ Business Advisory Teams comprised of technical, clinical, and commercial expertise in specific therapeutic areas or technologies to aid in developing new offerings
  • Approximately 2,100 MDs and PhDs across the combined clinical diagnostics and
    drug development enterprise

Broad Touchpoints Across the Healthcare Ecosystem

  • Patient base covering roughly 50% of the United States population with lab orders from >400K unique practicing physicians 
  • 6K in-office phlebotomists, nearly 2K patient service centers, and over 100 Labcorp at Walgreens locations
  • In-network service provider for all major health plans and nationally contracted for approximately 90% of all U.S. lives
  • Experience working with hundreds of pharmaceutical and biotechnology clients, including collaboration on 85% of novel drugs approved by the FDA in 2019 (100% of oncology drugs)

Unique Healthcare Data, Analytics, and Information Technology Assets

  • Proprietary data sets with more than 35 billion core and specialty lab test results
  • Clinical trial site performance data for 175K+ investigators
  • Significant IT connectivity, including 65K electronic data interfaces with clients

Focus on Consumer Convenience and Engagement

  • Pixel by Labcorp consumer-initiated testing platform with at-home and phlebotomy offerings
  • Mobile and web-enabled tools allowing consumers to make appointments, access test results, and pay bills
  • Patient intelligence portal for voice of customer insights and direct-to-patient surveys regarding clinical research opportunities and trial design preferences
  • Decentralized clinical trial models to improve enrollment by reducing patient and investigator burden

Global Logistics & Operations Expertise

  • Specimen transportation, processing, and result delivery for 3M patients per week
  • Clinical trial activity in approximately 100 countries with more than 4.4M trial supply kits shipped annually
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