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Invitae Completes $120M Series F Financing

NEW YORK (GenomeWeb) – Invitae said on Monday that it completed a Series F financing round that raised $120 million.

The San Francisco-based genetic diagnostics firm will use the funds to continue building out its infrastructure and expand its global business, it said. New investors included the Broe Group, Decheng Capital, Deerfield Management, OrbiMed, Perceptive Advisors, Rock Springs Capital, and Wellington Management, and others.

Existing investors Casdin Capital, Genesys Capital, Genomic Health, Invitae Founder and CEO Randy Scott, Redmile Group, and Thomas McNerney & Partners also participated in the round.

Invitae was originally formed as a wholly owned subsidiary of Genomic Health in early 2012 and became an independent company later that year, combining with genetics firm Locus Development. It specializes in genetic diagnostics for hereditary disorders and currently offers a test with more than 200 genes for diagnosing genetic disorders associated with cancer, cardiology, neurology, and pediatrics.

Last December, the company raised $40 million in Series E financing. Invitae has raised a total of $207 million since its founding, it said.