Covance
Covance Genomics Laboratory and Broad Institute to Collaborate on Sequencing Genome Studies

Princeton, N.J., August 3, 2011 — Covance Inc. (NYSE: CVD) today announced that its Seattle-based genomics laboratory will collaborate with the Broad Institute to create genomic resources for an important research model. Covance’s Next-Generation Sequencing capabilities will be used to profile microRNA expression in various tissue samples from this model. The genomic and messenger RNA sequencing at the Broad Institute is funded by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health.

This research model has proven to be valuable for understanding various human diseases (respiratory, oncology, cardiovascular, and gastrointestinal) and systems (reproduction, endocrinology, and neuroscience). The microRNA sequencing data and its analysis will be made available to the entire research community to further develop essential comparative and functional genomic tools.

 “In collaborating with the Broad Institute on this project, our shared hope is that parallel characterization of microRNA expression will contribute to our understanding of the underlying transcriptional regulatory networks," said Tom Turi, Ph.D., Vice President of Science and Technology for Covance Discovery and Translational Services. “These studies will rapidly expand our current knowledge of this area, laying the ground work for in-depth investigation of biomedically-relevant disease processes.”

Dr. John Engelhardt, a professor at the University of Iowa and an expert in genomic sequencing research said, “This collaboration will significantly expand the domestic specimen’s genomics toolbox and thus the ability of this model to dissect disease processes and develop therapies for a wide range of human illnesses. Coupled with the recent development of technologies to genetically engineer models, completion of the omics databases will revolutionize molecular medicine research with this species.”

“Covance‘s contribution to the ongoing genome project will be a tremendous benefit to the scientific community focused on this model,” said Dr. Federica Di Palma, the Group Leader of the Vertebrate Genome Biology group at the Broad Institute. “Their microRNA sequencing will significantly inform gene expression and regulation in this important model organism and accelerate the development of new tools for genomic research and their application to drug development and therapeutics.”

About Covance
Covance, with headquarters in Princeton, New Jersey, is one of the world’s largest and most comprehensive drug development services companies with annual revenues greater than $1.9 billion, global operations in more than 30 countries, and more than 10,500 employees worldwide.  Information on Covance’s products and services, recent press releases, and SEC filings can be obtained through its website at www.covance.com.

Statements contained in this press release, which are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth and other financial results are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  All such forward-looking statements including the statements contained herein regarding anticipated trends in the Company’s business are based largely on management’s expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.  These risks and uncertainties include, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, levels of industry research and development spending, the Company’s ability to continue to attract and retain qualified personnel, the fixed price nature of contracts or the loss of large contracts, risks associated with acquisitions and investments, the Company’s ability to increase order volume, the pace of translation of orders into revenue in late-stage development services, fluctuations in currency exchange rates,  and other factors described in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.  The Company undertakes no duty to update any forward looking statement to conform the statement to actual results or changes in the Company’s expectations.

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