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Invitae to Acquire Genosity to Speed Time to Market of Personalised Oncology Offerings
Wednesday 07 April 2021

US medical genetics company Invitae (NYSE: NVTA) has agreed to acquire life science biotechnology company Genosity Inc. to support mainstream adoption of personalised cancer care and monitoring, the company said.

Under the terms of the agreement, Invitae will acquire Genosity for approximately USD 200m, consisting of USD 120m in cash and approximately USD 80m in shares of Invitae common stock with such stock and cash consideration subject to reduction based upon certain debt and transaction expenses of Genosity determined at closing.

In connection with the transaction, Invitae will grant restricted stock units, having a value of up to USD 15m to certain continuing employees of Genosity.

The acquisition would bring Genosity's specialised capabilities onto the Invitae platform to decentralise Invitae's personalised oncology offerings, including somatic and germline offerings poised to help transform how cancer is diagnosed, treated and monitored.

Invitae is currently developing its Personalised Cancer Monitoring (PCM) platform as an in vitro diagnostic intended for regulatory submission.

With this capability, Invitae will be able to meet the needs of cancer patients worldwide, whether their clinicians send out to a central testing service or rely on tests that are completed locally by in-house laboratories.

Cowen served as exclusive financial advisor to Genosity in connection with the acquisition.

Invitae Corp. is a medical genetics company, bringing comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.

Genosity offers software and laboratory solutions to enable development and deployment of complex sequencing based tests.
Date Published: 07/04/2021