-- Now offering new high-quality panels for gastric cancer, for
common hereditary cancer, and for expanded breast, gynecologic, colon,
and pancreatic cancer testing --
SAN FRANCISCO--(BUSINESS WIRE)--
Invitae
Corporation (NYSE:
NVTA), a genetic information company, today announced that it is
releasing the next generation of comprehensive cancer panels, providing
broader panels and new testing categories.
Invitae has now expanded
its cancer offering to include more than 40 testing panels. This new
offering includes a mix of larger panels, such as expanded test panels
for hereditary breast, gynecologic, colon, and pancreatic cancers, and
new panels for common hereditary cancers and gastric cancer. The new
test menu also includes smaller, focused test panels, such as Lynch
syndrome and hereditary breast and ovarian cancer syndrome. Invitae
testing also provides detection of unusual but important mutations such
as the promoter mutations in APC, BMPR1A, GREM1, PTEN,
MLH1, and TP53, and previously difficult to detect
alterations such as the "Boland inversion" for MSH2 and
deletions or duplications in the CHEK2 and PMS2 genes. The
result is a more comprehensive set of test panels with in-depth coverage
of genes relevant to these hereditary cancer syndromes.
“As we’ve seen through recently published data, the use of multi-gene
panel testing to assess hereditary cancer risk is an important new
development in clinical oncology,” said Adam Brufsky, MD, director of Comprehensive
Breast Services, Magee-Womens Hospital, University of Pittsburgh Medical
Center. “Now that the Supreme Court has enabled the availability of
new hereditary cancer tests, clinicians now have important new
affordable options. The ability to customize a genetic panel could give
clinicians the flexibility they need to select the right option for each
of their patients.”
Before the end of the year, Invitae also plans to expand its offering to
include additional hereditary cancer syndromes, to include hematopoietic
malignancies, bone and soft tissue sarcomas, neurological, endocrine,
genitourinary, and skin cancers.
Invitae recently published clinical
data in the Journal
of Molecular Diagnostics demonstrating in a study of
approximately 1,000 patients that Invitae’s next generation DNA
sequencing platform delivered 100% analytic concordance and 99.8%
clinical concordance compared to genetic tests from Myriad Genetics.
“Given our expanding body of evidence demonstrating the high quality of
our test results, we’re pleased to be able to make our testing available
to help a broader group of patients,” said Robert Nussbaum, MD, chief
medical officer of Invitae. “Expanding access to comprehensive genetic
information can significantly improve care and outcomes, and we expect
that payers, patients, and clinicians will recognize that genetic
testing is an important component of healthcare when carried out in
accordance with responsible, guidelines-based medical practice. Now,
payers have the opportunity to significantly reduce healthcare costs by
working with Invitae.”
Invitae offers a transparent pricing structure independent of the number
of genes required to provide an accurate diagnosis for any specific
clinical indication. For payers and institutions who are in contract
with Invitae, the price per indication can be as low as $950, depending
on the payer’s requirements. For third-party payers with whom Invitae is
out-of-network and for non-contracted institutions, the price per
indication is $1,500. In addition, for patients without third-party
insurance coverage or who do not meet insurance criteria for coverage,
Invitae offers its full test menu for $475 per indication for patients
whose clinician has ordered the testing online and who register online
and pay in advance for the testing.
About Invitae
Invitae Corporation's (NYSE: NVTA) mission is to bring comprehensive
genetic information into mainstream medical practice to improve the
quality of healthcare for billions of people. Invitae’s goal is to
aggregate most of the world’s genetic tests into a single service with
higher quality, faster turnaround time, and lower price than many
single-gene and panel tests today. The company currently provides a
single diagnostic service comprising hundreds of genes for a variety of
genetic disorders associated with oncology, cardiology, neurology,
pediatrics and other rare disease areas.
For more information, visit our website at ir.invitae.com
and follow us on Twitter: @invitae
and @invitaeIR.
Safe Harbor Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to the potential benefits of genetic
testing and the company’s tests to clinicians, patients and payers; the
company’s expectations regarding the release of additional tests and the
timing thereof; the benefits of the company’s pricing and billing
policies; and the ability of the company to realize its goals, including
making genetic testing more affordable and accessible to billions of
people. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially, and
reported results should not be considered as an indication of future
performance. These risks and uncertainties include, but are not limited
to: the company’s history of losses; the ability of clinical results to
affect treatment decisions; the company’s ability to generate
substantial demand for its tests; the company’s ability to develop and
commercialize new tests and expand into new markets; the risk that the
company may not obtain or maintain sufficient levels of reimbursement
for its tests; risks associated with the company’s ability to use
rapidly changing genetic data to interpret test results accurately and
consistently; the company’s ability to compete; laws and regulations
applicable to the company’s business, including potential regulation by
the Food and Drug Administration; and the other risks set forth in the
company’s filings with the Securities and Exchange Commission, including
the risks set forth in the company’s Quarterly Report on Form 10-Q for
the quarter ended June 30, 2015. These forward-looking statements speak
only as of the date hereof, and Invitae Corporation disclaims any
obligation to update these forward-looking statements.

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Source: Invitae Corporation