Genetic information company Invitae completed a $120 million Series F round of financing. The plan is to use the proceeds to accelerate the build out of Invitae’s infrastructure for its genetic information business, as well as to expand the company’s 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., Randy Scott, Redmile Group and Thomas McNerney & Partners, among others. J.P. Morgan Securities LLC acted as sole placement agent on the financing.
Based in San Francisco, Invitae is on a mission to bring genetic information into routine medical practice to improve the quality of healthcare. Specializing in genetic diagnostics for hereditary disorders, the company’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. Invitae currently provides a single diagnostic test comprising over 200 genes for a variety of genetic disorders associated with cancer, cardiology, neurology and pediatrics. Thus far, it has raised a total of $207 million.