SAN FRANCISCO, December 10, 2013 - Invitae Corporation, a genetic diagnostics company, today
announced the completion of a $40 million Series E financing. Invitae will use
the financing to accelerate the ongoing development of the company’s clinical
genetic tests for hereditary disorders, including oncology, neurology and pediatric medicine. Invitae will also focus on expanding to
international markets.
Investors
participating in the Series E round include Genomic Health, Inc. (NASDAQ: GHDX),
Randy Scott, Thomas McNerney & Partners, Redmile Group, Genesys Capital, Casdin
Capital, among others.
“Invitae is
making significant progress in expanding our genetic testing services and
executing on our business plan. With the
support of our new and existing investors, this financing will allow us to
expand our offering of genetic tests and build on our commercial capabilities,”
said Randy Scott, PhD, founder and chief executive officer of Invitae. “This
financing will help us to accelerate our plans to reinvent genetic testing by
making it more affordable and accessible than ever before, and, ultimately, it
will help us achieve our goal of transforming multi-use genetic testing into
routine medical practice.”
About Invitae
Corporation
Specializing in genetic diagnostics for
hereditary disorders, Invitae’s mission is to make multi-use genetic testing
more accessible and affordable than ever before.
The company is pursuing a strategy over
the next several years to aggregate all the world's medical genetic tests
(>3,000 known Mendelian inherited conditions) into a single assay at a lower
cost than most single gene tests today.
This capability is increasingly enabled
by the rapid advancements in DNA sequencing technology. Invitae hopes to lead the way from an era of
genetic scarcity to genetic abundance to significantly improve healthcare
worldwide.
Invitae has raised $87 million from
investors, including Thomas,
McNerney & Partners, Genomic Health, Inc.
(NASDAQ: GHDX),
Genesys Capital, Casdin Capital, Redmile Group and Randy
Scott.
For further information, please visit www.invitae.com.
Contact:
Katherine
Stueland
pr@invitae.com
206.226.0672
Paul
Laland
BrewLife
plaland@brewlife.com
415.946.1071