Invitae Corp. has completed a $40 million Series E financing to continue developing genetic tests for hereditary disorders in the areas of oncology, cardiology, neurology, and pediatric medicine; and to promote its global expansion efforts. Backers included Genomic Health, Thomas McNerney & Partners, Redmile Group, Genesys Capital, Casdin Capital, and others.
Invitae aims to consolidate testing for more than 3000 inherited disorders into a single genetic test that costs less to administer than many existing single-gene tests. “This financing will help us to accelerate our plans to reinvent genetic testing by making it more affordable and accessible than ever before, and, ultimately, it will help us achieve our goal of transforming multi-use genetic testing into routine medical practice,” said Invitae CEO Randy Scott.
For further information, visit Invitae.
