BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced a collaboration agreement with Labcorp (NYSE: LH), a leading global life sciences company, creating a framework to develop, manufacture, market and commercialize flow cytometry-based companion diagnostics (CDx) intended to match patients with life-changing treatments for cancer and other diseases.

The agreement creates a framework for BD and Labcorp Drug Development to collaborate on flow cytometry-based CDx opportunities with pharmaceutical partners. The two companies bring together capabilities that comprise an end-to-end solution for CDx development for the pharmaceutical industry. Their joint offering ranges from exploratory panel development to U.S. Food and Drug Administration (FDA) approval of diagnostic and IVD kit manufacturing and distribution.

"Flow cytometry is a trusted and powerful tool for analyzing cells to better understand disease, and it has tremendous untapped potential as a companion diagnostic in oncology and other therapeutic areas," said Dr. Bill Hanlon, chief scientific officer of Labcorp Drug Development. "This strategic collaboration with BD, a pioneer and global leader in flow cytometry, is an exciting step toward increasing adoption and ultimately bringing innovative new companion diagnostics to market to help identify patients who could benefit most from appropriate treatments."

Selecting the optimal first-line therapy for patients with cancer by using companion diagnostics can be critical to ensuring the best outcomes and time and cost savings. Today's companion diagnostic tests commonly involve technologies such as immunohistochemistry (IHC), fluorescence in situ hybridization (FISH), polymerase chain reaction (PCR), next-generation sequencing (NGS) and imaging. Flow cytometry is an emerging technology in the field.

"In the companion diagnostic landscape, there is a clear and urgent need for high sensitivity and multiplexing capabilities, and that is where flow cytometry can help," said Puneet Sarin, president of BD Biosciences. "BD and our dedicated CDx team are uniquely positioned to advance flow cytometry as a companion diagnostic tool, and we are pleased to join forces with Labcorp, a trusted global leader in diagnostic testing and drug development, to pursue opportunities with the pharmaceutical industry to develop new companion diagnostics that can potentially improve patient outcomes and drive us forward in advancing the world of health."