Invitae, has entered into a definitive agreement to acquire Genosity Inc., a genomics company offering innovative software and laboratory services to enable development and deployment of complex sequencing based tests. Invitae aims to use the acquisition to bring Genosity’s specialized capabilities its platform to accelerate the time to market and decentralization of its personalized oncology offerings, including somatic and germline offerings poised to help transform how cancer is diagnosed, treated and monitored.
“Each individual cancer is unique. The way we diagnose and treat it must be as well,” said Robert Nussbaum, chief medical officer of Invitae. “Our goal is to move as quickly as we can toward the day where each cancer patient receives timely, comprehensive genetic information that is used to guide their care from diagnosis to monitoring for disease recurrence. Together with Genosity, we believe our combined novel capabilities and capacity will help us reach that day sooner for patients around the globe.”
“Genosity, under the insightful leadership of Marc Grodman has been able to develop solutions which enable broader adoption of genomic testing. Our laboratory services, end-to-end software solutions and data management platform are an ideal fit as Invitae develops best-in-class options for MRD-based cancer monitoring,” said Robert D. Daber, president and chief technology officer of Genosity. “In Invitae we have found a like-minded partner focused on making genomics more affordable and accessible worldwide.”
Cowen served as exclusive financial advisor to Genosity in connection with the acquisition.