Fortrea
↗Durham, North Carolina, USA
Fortrea is a leading global contract research organization (CRO) that provides comprehensive Phase I-IV clinical trial management and patient access solutions. Spun off from Labcorp in July 2023, the company operates as a pure-play CRO, leveraging over 30 years of experience inherited from its legacy as Covance and Labcorp Drug Development.
The company supports pharmaceutical, biotechnology, and medical device innovators through a global network spanning approximately 90 countries. Fortrea specializes in complex therapeutic areas including oncology, neuroscience, rare diseases, and cell and gene therapies, offering flexible delivery models such as Full Service (FSO) and Functional Service Provider (FSP) structures.
CLASSIFICATION
SIZE & FINANCIALS
Employees:10000+
Revenue:$2.7B - $2.8B
Founded:2023
Ownership:public
Status:operating
FUNDING
Stage:Public
Total Raised:$75.7M (Debt Financing/Notes)
Investors:Public Markets, Arsenal Capital Partners (Acquired specific business units)
STOCK
Exchange:NASDAQ
Ticker:FTRE
Market Cap:$1.2B
PIPELINE
Stage:Commercial
Lead Drug Stage:Phase I-IV Service Provider
Modalities:Small molecule, mAb, Cell therapy, Gene therapy, Vaccines, Medical Devices
Active Trials:5000
Trial Phases:Phase 1: 1200 | Phase 2: 1500 | Phase 3: 1800 | Phase 4: 500
FDA Approvals:0
EMA Approvals:0
CORPORATE STRUCTURE
Subsidiaries:Fortrea Clinical Pharmacology, FortreaRx (Specialty Pharmacy)
Key Partnerships:SCTbio (Strategic collaboration for Cell and Gene Therapy manufacturing/clinical development), Society for Clinical Research Sites (SCRS) (Partnership to advance site collaboration), Medidata (Technology partnership for EDC and clinical data studio)
COMPETITION
Position:Leader
Competitors:IQVIA, ICON plc, PPD (Thermo Fisher Scientific), Syneos Health, Medpace
LEADERSHIP
Key Executives:
Anshul Thakral - CEO
Jill McConnell - CFO
Mark Morais - COO
Board Members:Peter M. Neupert (Chairman), Anshul Thakral, Dr. Amrit Ray, Machelle Sanders
LINKS
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