Laboratory Corporation of America Holdings (LabCorp), one of the world's leading clinical trials and genetic testing laboratories, and Vanda Pharmaceuticals Inc., a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders, announced an exclusive alliance to develop and commercialize a series of diagnostic tests for genetic markers identified by Vanda in the course of its clinical development of Fanapta (iloperidone), a novel atypical antipsychotic drug candidate under FDA review for the treatment of schizophrenia. Financial terms of the agreement were not disclosed.

Vanda has identified a series of pharmacogenetic markers during its development of Fanapta, and the company continues its pioneering work in this area. Under the terms of the collaboration, LabCorp will be Vanda's exclusive commercialization partner for tests for genetic markers of the Fanapta programme.

"Working with innovative companies like Vanda to commercialize predictive medicine tests is a critical strategic focus for LabCorp," said Andrew J. Conrad, Ph.D., Chief Scientist and Global Head of Clinical Trials for LabCorp. "This collaboration is an example of our commitment to the advancement of personalized medicine and represents a successful translation of a research based assay into a valuable diagnostic test. This relationship is consistent with our focus on companion diagnostics."

"We are pleased to be collaborating with LabCorp in this important effort," said Mihael H. Polymeropoulos, M.D., CEO of Vanda Pharmaceuticals Inc. "LabCorp's diagnostic development expertise, world-class testing capabilities, and national distribution network make them an ideal choice."

Schizophrenia is a chronic, severe, and disabling mental disorder that affects more than two million Americans and approximately one percent of the world's adult population. Patients suffering from schizophrenia exhibit a range of symptoms, including: positive symptoms, such as hallucinations and delusions; negative symptoms, such as emotional withdrawal; and cognitive symptoms associated with significant impairment in social and occupational functioning.