Director, New Ventures

Imagine being involved in innovation and projects that change the course of our industry on a daily basis At Labcorp, one of the world’s largest and most comprehensive pharmaceutical solutions service companies, you will have an opportunity to build an exciting career while you make a direct impact on the lives of millions.

We have an excellent career opportunity for a  Director Corporate Development, New Ventures & Strategic Alliances  - Labcorp Venture Fund.

Position Overview:

Reporting to the Vice President of Corporate Development, New Ventures & Strategic Alliances, the Director will work closely with Labcorp’s executive team, senior business and commercial leaders, scientific and technical experts, as well as external entrepreneurs and investors to successfully identify, negotiate, execute, and manage equity investments for the Labcorp Venture Fund.

This role is a key contributor to bringing innovation and strategic opportunities to the company. As part of the Labcorp Venture Fund and Corporate Development team that pursues new ventures and strategic alliances, the Director enables and supports the diagnostic and drug development business units with their strategic and growth objectives through the investment in and commercialization of innovative technology. The team is tasked to identify unmet needs, assess opportunities, and execute agreements across all therapeutic areas with a focus on:

Launching novel diagnostic tests, platforms, and services

New biomarker discovery and companion diagnostic development

Optimizing clinical trials

Developing mobile and digital health offerings

Enabling consumer/customer convenience and engagement

Integrating health tech and bioinformatics

This Director role will facilitate equity investment decisions in early-stage private companies developing novel solutions to important problems in health and healthcare. With an 11+ year history, the Labcorp Venture Fund has made over 70 direct investments and deployed over $200M in capital to date. The Director will be part of a team responsible for both evaluating new investment opportunities and managing current portfolio companies. Responsibilities will span all stages of the investment process including: developing market and competitive landscape analyses for specific healthcare industry sub-sectors, opportunity sourcing, opportunity prioritization, due diligence, executing transactions, and reviewing the investment portfolio.

Opportunity Sourcing: Build and maintain relationships within the venture ecosystem to broaden deal pipeline; manage deal intake process to catalog and document opportunities; define fund investment thesis and priority areas of focus

Investment Strategy: Develop and implement strategic investment plans that align with Labcorp’s broader corporate goals. Regularly assess the portfolio and provide insights to senior leadership on performance and market trends

Deal Funnel Management: Coordinate review of opportunities with internal & external subject matter experts; prioritize opportunities based on feedback; conduct detailed due diligence

Due Diligence: Conduct thorough due diligence, including financial analysis, market research, competitive analysis, and risk assessment. Collaborate with cross-functional teams to evaluate the scientific and commercial viability of potential investments

Deal Execution: Draft investment case for top opportunities; present recommendations to Labcorp Venture Fund Committee, which includes our C-level Executive and other Senior VPs; oversee negotiation and closing of approved opportunities

Negotiation & Term Sheets: Negotiate terms and draft term sheets for investments that the Venture Fund decides to pursue. Syndicate investments with investment partners to optimize deal structures.

Legal Documentation: Work closely with external legal advisors and Labcorp Holdings’ legal department to finalize legal documentation for investments. Ensure compliance with all regulatory and legal requirements

Portfolio Management: Function as liaison between [over 40 active] portfolio companies and Labcorp business units; guide portfolio companies in development of their strategy & business plans; brainstorm areas of collaboration with broader Labcorp enterprise; attend board meetings in observer capacity

Financial Tracking & Reporting: Track monthly capital allocation and portfolio fair market value; build out and update KPI dashboards tracking fund strategic return & goals

B.A./B.S. degree in scientific discipline. MBA and/or MS/PhD/MD preferred

7-10 years of work experience in a related healthcare field. Life Science, Pharma/ Biotech, or Diagnostic companies preferred

Prior healthcare experience preferred, including familiarity with diagnostic and drug development industry trends as well as regulatory and reimbursement

Inquisitiveness and ability to dive deep and understand new clinical research, emerging technologies, research, publications and emerging healthcare science

Strong track record of success in positions of increasing responsibility; minimum of five years of broad-based business experience including but not limited to: VC/PE, corporate development, strategy, and/or investment banking, preferably in healthcare

Writing, verbal communication, and presentation skills -- ability to influence and build consensus among both cross-functional teams and executive level management

Financial and analytical skills -- familiarity with venture capital financial instruments and deal terms; understanding of company valuation methodologies and capitalization structures

Highly independent, strategic thinker with a mix of deep financial acumen, broad-based business experience and a track record of distinctive leadership in a wide range of team settings

Quick learner adept at self-management and handling many simultaneous projects with deadlines; Strong organizational and analytical skills with attention to detail

Innovative thinker, comfort with ambiguity, and self-starter - ability to work with limited direction and make informed decisions in a fast-paced environment

Preferably located in or around Raleigh-Durham, NC -- will report to office located in RTP

Innovative Environment: Join a leading healthcare organization committed to driving innovation through strategic investments to help improve health and improve lives

Global Impact: Contribute to the future of healthcare by investing in pioneering companies that can transform patient care

Collaborative Culture: Work in a dynamic, inclusive environment that values diverse perspectives and fosters collaboration

Learn More:

Applications accepted through: 09/12/2024

Location: US remote based

Salary range: $160k - $177k (USD) plus bonus eligible.

Benefits: All job offers will be based on a candidate’s skills and prior relevant experience, applicable degrees/certifications, as well as internal equity and market data. Regular, full-time or part-time employees working 20 or more hours per week are eligible for comprehensive benefits including: Medical, Dental, Vision, Life, STD/LTD, 401(K), ESPP, Paid time off (PTO) or Flexible time off (FTO), Commissions, and Company bonus where applicable. For more detailed information, please  . 

Labcorp is proud to be an Equal Opportunity Employer:

As an EOE/AA employer, Labcorp strives for diversity and inclusion in the workforce and does not tolerate harassment or discrimination of any kind. We make employment decisions based on the needs of our business and the qualifications of the individual and do not discriminate based upon race, religion, color, national origin, gender (including pregnancy or other medical conditions/needs), family or parental status, marital, civil union or domestic partnership status, sexual orientation, gender identity, gender expression, personal appearance, age, veteran status, disability, genetic information, or any other legally protected characteristic.

We encourage all to apply

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