SAN FRANCISCO, October 13, 2014 – Invitae Corporation, a genetic information company, today announced the completion of a $120 million Series F financing. Invitae plans to use the proceeds to accelerate the build out of its infrastructure for its genetic information business, as well as to expand its global presence.
New investors participating in the round included (in alphabetical order) The Broe Group, Decheng Capital, Deerfield Management LLC, OrbiMed, Perceptive Advisors, Rock Springs Capital and Wellington Management Company, LLP, among others. Existing investors participating in the financing included Casdin Capital, Genesys Capital, Genomic Health, Inc. (NASDAQ: GHDX), Randy Scott, Redmile Group and Thomas McNerney & Partners, among others. J.P. Morgan Securities LLC acted as sole placement agent on the financing.
Invitae, based in San Francisco, is a genetic information company whose mission is to bring genetic information into routine medical practice to improve the quality of healthcare. Specializing in genetic diagnostics for hereditary disorders, Invitae’s goal is to aggregate the world’s genetic tests into a single service with better quality, faster turnaround time, and a lower price than many single-gene diagnostic tests today. The company currently provides a single diagnostic test comprising over 200 genes for a variety of genetic disorders associated with cancer, cardiology, neurology and pediatrics. Invitae has raised a total of $207 million from investors to date.