-- High-quality genetic tests now available for RASopathies,
ciliopathies, and various congenital structural heart defects, patient
pay price is $475 --
-- More panels for rare diseases to be introduced in coming months --
SAN FRANCISCO--(BUSINESS WIRE)--
nvitae
Corporation (NYSE:
NVTA), a genetic information company, today announced that it has
started to expand its offering of genetic tests for rare diseases and
pediatric conditions, providing broader panels and new testing
categories.
Invitae’s new test panels for various congenital structural heart
defects provide a broad, innovative option for patients with negative or
uncertain chromosomal microarray results. Additionally, Invitae has
expanded its test panels for two challenging pediatric disorders, the
RASopathy syndromes, such as Noonan syndrome, and primary ciliary
dyskinesia (PCD), a serious pediatric disorder of the respiratory system
that often escapes early diagnosis.
Invitae plans to continue to broaden its test menu for rare and
pediatric conditions over the next few months to be able to better serve
the clinical community and the patients they see. In addition, Invitae
continues to offer its line of panel testing for hereditary
hemochromatosis, thrombophilia, and Fanconi anemia.
Individuals with clinical evidence of childhood-onset genetic conditions
may benefit from diagnostic testing to confirm a clinical diagnosis,
determine inheritance patterns, allow accurate genetic counseling for
parents, provide insight into clinical management strategies for optimal
patient care, and, in some cases, establish eligibility for clinical
trials.
“As clinicians, we see families who have suffered a diagnostic odyssey
that can last for years and cost the families and the healthcare system
a significant amount of money,” said Michael Knowles, MD, professor of
pulmonary and critical care medicine at University
of North Carolina School of Medicine. “We have been waiting for a
comprehensive and affordable clinical genetic panel to aid the diagnosis
of PCD and other rare lung diseases, and are delighted to see
comprehensive clinical genetic panels that provide options for patients
with symptoms suggesting a genetic lung condition. Congratulations to
Invitae for this new development.”
"The PCD Foundation welcomes news of an expanded genetic panel to aid in
the diagnostic process for PCD. Access to comprehensive and affordable
genetic testing holds the promise of simpler and earlier diagnosis,
which would greatly improve the quality of life for families and
affected individuals who are often caught in a protracted, confusing,
and painful diagnostic process,” said Michele Manion, executive director
of the PCD
Foundation. “Accurate diagnosis is the cornerstone that supports our
research efforts, in turn providing hope for people with PCD. We
congratulate Invitae on this exciting announcement."
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.
“Historically, genetic testing has been inaccessible to many because of
the cost associated with high quality tests. Invitae is committed to
making testing accessible to billions of people by lowering the cost of
high-quality genetic testing,” said Robert Nussbaum, MD, chief medical
officer of Invitae. “Genetic testing of childhood-onset conditions may
confirm diagnosis and inheritance patterns, providing families and other
at-risk individuals the ability to make informed decisions.”
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; the ability of the company’s tests to
provide a simpler and earlier diagnosis; the number of potential
patients who may benefit from the company’s tests; the company’s
commitment to making genetic testing more accessible by lowering the
cost; 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 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: 314-920-0617