Mitsubishi Chemical Medience and Laboratory Corporation of America Holdings (LabCorp) Clinical Trials Announce Master Service Agreement to Offer Clients Greater Access to Global Central Lab Services

TOKYO, June 21, 2013 /PRNewswire/ -- Mitsubishi Chemical Medience Corporation (MCM) today announced that the company has signed a Master Service Agreement with the clinical trials division of Laboratory Corporation of America^® Holdings (LabCorp^®) (NYSE:LH). The agreement builds on the strengths and capabilities of both companies, and allows LabCorp Clinical Trials and MCM to extend their service offerings to clients in Japan and around the world, respectfully.

"Pharmaceutical sponsors everywhere continue to look to new markets and technologies for drug development opportunities, and our clients are no different," said Mr. Shinichi Yoshihara, President and CEO of Mitsubishi Chemical Medience Corporation. "We are therefore excited to work closely with LabCorp as a global leader in central lab, biomarker and specialty testing, and with cutting-edge technologies from both sides we are confident this partnership will provide new channels of growth and competitive advantage for both companies."

"MCM is a leading diagnostic laboratory and central lab in Japan with considerable experience and long-standing relationships in the medical and pharmaceutical communities," said Dr. Mark Brecher, LabCorp's Chief Medical Officer. "The two companies complement each other in this respect, and we look forward to working together to offer a complete global solution for our customers conducting trials in Japan and around the globe."

Both companies will exhibit at the Drug Information Association (DIA) annual meeting taking place June 23-27 in Boston, Mass. Clients who are interested in learning more about this announcement can visit LabCorp Clinical Trials at booth 1451 or MCM at booth 1548.

About Mitsubishi Chemical Medience Corporation
Mitsubishi Chemical Medience Corporation is a member of the Mitsubishi Chemical Holdings Corporation Group, which is headquartered in Tokyo, Japan. Mitsubishi Chemical Medience is the first company in Japan to establish a business style that combines clinical and diagnostic laboratory testing services with in vitro diagnostics (IVD) and pharmaceutical development support. One of Mitsubishi Chemical Medience's primary business areas is their IVD business, which includes the development, sale, export, and import of in vitro diagnostic reagents and instruments. Mitsubishi Chemical Medience's globally accepted PATHFAST system, a rapid point-of-care immunochemistry analyzer, has been exported to more than 40 countries. Throughout almost five decades of IVD business, customers in various chemical and diagnostic industry segments have come to trust and rely on Mitsubishi Chemical Medience's competence and strength, as represented by the superior quality of their products and customized solutions. To learn more, visit the company's website at http://www.medience.co.jp/english/index.html.

SOURCE Mitsubishi Chemical Medience Corporation