Alpha Therapeutic Forms Alliance for Plasma Testing Laboratory; Agreement With National Genetics Institute and LabCorp Enhances Testing Operations
The management agreement enables Alpha to bring additional expertise and the latest laboratory management systems and technology to its laboratory in Memphis, Tenn.
Alpha collects human blood plasma, which is tested and then processed into a variety of therapies to treat bleeding disorders, immune deficiencies and shock. All plasma donations are tested for HIV and hepatitis at Alpha's testing laboratory. The laboratory conducts more than 10 million tests each year, and was established in 1974.
"This alliance is yet another step forward for Alpha as we focus on innovative ways to meet the needs of people who depend on plasma products," said Edward A. Colton, president and chief executive officer. "NGI and LabCorp are laboratory testing experts. It's what they do best.
"At Alpha, we're focused on collecting plasma from donors, processing it into lifesaving therapies and providing those therapies to our customers. That's what we do best. Testing of plasma, our raw material, is vitally important and that's why we've partnered with NGI/LabCorp to manage our lab."
Alpha will maintain ownership of the lab and will retain the license from the U.S. Food and Drug Administration. NGI/LabCorp will manage the lab operations utilizing Alpha employees and will provide testing services for Alpha. Financial terms of the agreement were not disclosed.
The first national clinical laboratory to fully embrace genomic testing, Laboratory Corporation of America(R) Holdings (LabCorp(R)) has been a pioneer in commercializing new diagnostic technologies. As a national laboratory with annual revenues of $1.9 billion in 2000 and over 19,000 employees, the company offers more than 4,000 clinical tests ranging from simple blood analyses to sophisticated molecular diagnostics.
Its National Genetics Institute in Los Angeles is an industry leader in developing novel, highly sensitive polymerase chain reaction (PCR) methods for testing hepatitis C and other blood borne infectious agents. LabCorp's clients include physicians, state and federal government, managed care organizations, hospitals, clinics, pharmaceutical and Fortune 1000 companies, and other clinical laboratories.
Alpha is a leading developer of plasma-derived biopharmaceutical products including coagulation factors, immune globulin and albumin. With headquarters in Los Angeles, Alpha is committed to providing high-quality, safe and cost-effective therapeutics for improved patient care worldwide. Additional company information is available at www.alphather.com.
CONTACT: Alpha Therapeutic Corporation, Los Angeles
Karen L. White, 323/227-7018