Invitae Raises $102M in IPO

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Invitae Raises $102M in IPO

Coverage of Invitae’s IPO:

“Genetic testing firm Invitae Corp. bucked an IPO tide that has become choppy of late, raising more than expected in a $102 million offering. The San Francisco company led by Randal Scott boosted the number of shares it offered and priced above its target range. It sold 6.35 million shares at $16. It had been expected to sell 5.35 million shares for between $13 and $15.”
Silicon Valley Business Journal

“The company’s current catalog lists tests for several hereditary diseases, cardiology disorders, cancers, and more, with the offer to combine and customize them. It says it charges $1,500 per sample and turns results around in less than three weeks, in most cases. Its first offering launched in late 2013, and 80 percent of its business has come from tests for inherited cancer, according to its regulatory filings. The company, which had 161 employees at the end of 2014, has declined to discuss its work in the run-up to the IPO, citing “quiet period” regulations.”

“Invitae plans to use its financing to expand its current assay of 216 genes to one with more than 500 genes in 2015. Eventually, the company expects to provide genetic information on all the clinically indicated genes that are known, a figure that’s currently at 4,000. Whole genome analysis is the ultimate goal for Invitae. About 80% of its test orders by Sept. 30 were for hereditary cancers.”


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February 12th, 2015|