LabCorp Pens Cancer Dx-Development Deal With CancerGuide Diagnostics

By Kirell Lakhman

LabCorp plans to co-develop and commercialize certain molecular diagnostic tests for cancer with CancerGuide Diagnostics as part of a multi-year licensing deal, according to a news report.

According to CancerGuide, its initial tests will be designed to help physicians assess the risk of cancer recurrence and for therapy selection.

The companies have a couple of things already in common: LabCorp, based in Burlington, NC, is also an equity investor in CancerGuide, which is located in Durham, NC. Also, CEO Myla Lai-Goldman is a former chief scientific officer and chief medical officer of LabCorp.

The report also said CancerGuide has raised the first tranche of a $10.5 million first round of fundraising.

According to filings with the US Securities and Exchange Commission, CancerGuide received $2 million in the first tranche of the financing, which was led by Hatteras Venture Partners and Intersouth Partners, both of Durham.