Noridian Healthcare Solutions opened a draft local coverage determination for gene tests for heritable thoracic aortic disease per a request from Invitae Corp., of San Francisco, which makes a comprehensive panel test for aortopathy.
Invitae Corp. has entered into a partnership with Bridgebio Pharma Inc. to advance genetics-based drug discovery for rare diseases. The goal of the collaboration is to generate new insights focused on genetic modifiers and the discovery of novel therapeutic targets for rare diseases and other unmet medical needs.
Invitae Corp. continued its aggressive cost-cutting initiative with the sale of its reproductive health assets to Natera Inc. for $10 million in upfront cash and an additional $42.5 million in potential milestone payments and litigation credits. The assets include screening tests for carrier status and non-invasive prenatal screening.
On Dec. 1, a judge in the U.S. District Court for the District of Delaware granted Natera Inc. a permanent injunction in its patent infringement suit against Archerdx Inc. and its former parent company, Invitae Corp., adding another block to the intellectual property wall of protection around the market dominance of Signatera, Natera’s molecular residual disease (MRD) assay.
Chinese company Seekin Inc. is preparing to launch its cancer detection technology in Europe after securing CE marking for the Seekincare pan-cancer test. The artificial intelligence, blood-based platform uses insights from public and private data to identify cancer DNA and protein signals in the blood. The test has been available in Chinese labs since 2018.
Invitae Corp. has inked a definitive agreement to acquire Genosity Inc., a genomics company with a technology platform for next-generation sequencing (NGS) assays, for approximately $200 million in cash and stock. Separately, the medical genetic testing company reported a $1.15 billion investment, led by Softbank Group subsidiary SB Management, to support ongoing growth initiatives. San Francisco-based Invitae expects the Genosity platform to accelerate the development and launch of its oncology products, including three tests that won FDA breakthrough device designation.
Digital health bucked uncertainties around the COVID-19 pandemic, reeling in $6.3 billion in funding in the first half of 2020, according to a new report from Mercom Capital Group. The record-setting, global haul was 24% higher than last year’s first-half raise of $5.1 billion.
Invitae Corp. (NYSE:NVTA) saw its stock flying high June 22 on the news of its agreement to buy Archerdx Inc., with an eye toward enhancing cancer genetics and precision oncology. Investors appear to approve of the deal, with the company’s stock closing at $27.05, up $8.34 or 44.58%.
San Francisco-based Invitae Corp. is putting pedal to the metal in its quest to bring comprehensive genetic testing into mainstream clinical practice, reporting the acquisition of three companies – Diploid, Youscript Inc. and Genelex Labs LLC – following Tuesday’s market close. The total bill for the three deals comes to $195 million, $57 million of which is in cash.
The U.S. Centers for Medicare and Medicaid Services (CMS) has significantly relaxed the national restrictions on coverage of next-generation sequencing for cancer, affirming that early-stage breast and ovarian cancer patients will be covered. However, Medicare administrative contractors can cover tests that have not been reviewed by the FDA, a move that should also significantly boost utilization for makers of next-generation sequencing systems in clinical labs.
