Genetic Testing Company Invitae Nets $40M Series E
December 12, 2013
Genetics diagnostics company Invitae has completed a $40 million Series E financing. The funding will be used to accelerate the ongoing development of the company’s clinical genetic tests for hereditary disorders, including oncology, neurology and pediatric medicine. Invitae will also focus on expanding to international markets.
The company is pursuing a strategy over the next several years to aggregate all the world’s medical genetic tests (>3,000 known Mendelian inherited conditions) into a single assay at a lower cost than most single gene tests. Since its founding in 2010, Invitae has raised about $87 million in funding, including a $30 million investment that valued the company at $58 million in 2012.