Skip to main content
Premium Trial:

Request an Annual Quote

Invitae Completes Acquisition of ArcherDx

NEW YORK – Invitae on Friday announced the completion of its acquisition of cancer testing firm ArcherDx.

The merger, which Invitae announced in June, adds tumor profiling and liquid biopsy technologies for predicting and monitoring therapeutic response to Invitae's service offerings. Prior to the ArcherDX acquisition, Invitae only provided germline cancer genetic testing.  

"With the addition of ArcherDX's technologies, capabilities and team, Invitae is now well positioned to accelerate the utilization of genetic information throughout a cancer patient's journey," Invitae CEO Sean George said in a statement. "Starting from risk profiling and diagnostic testing, moving to therapy optimization, monitoring and recurrence surveillance, Invitae can deliver the information needed to enable best-in-class personalized cancer care."

Under the terms of the deal, Invitae acquired ArcherDx for $325 million in cash and 30 million shares of Invitae stock upfront. Additionally, Invitae may pay up to 27 million in shares of its common stock if certain milestones are met. The overall transaction is valued at around $1.4 billion.

In connection with the acquisition, Invitae borrowed $135.0 million under the credit agreement and guaranty with Perceptive Credit Opportunities Holdings III. The company has also issued to Perceptive warrants to purchase 1 million shares of Invitae's common stock. Separately, to help pay for the acquisition, Invitae sold 16.3 million shares of common stock for $275 million to certain accredited investors in a private placement.

Jason Myers, formerly ArcherDx CEO, was also appointed to Invitae's board of directors on Oct. 2 as part of the transaction. He will serve as president of oncology at Invitae.

The Scan

Dropped Charges

The US Justice Department has dropped visa fraud charges against five Chinese researchers, according to the Wall Street Journal.

More Kids

The Associated Press says Moderna is expanding its SARS-CoV-2 vaccine study to included additional children and may include even younger children.

PNAS Papers on Rat Clues to Human Migration, Thyroid Cancer, PolyG-DS

In PNAS this week: ancient rat genome analysis gives hints to human migrations, WDR77 gene mutations in thyroid cancer, and more.

Purnell Choppin Dies

Purnell Choppin, a virologist who led the Howard Hughes Medical Institute, has died at 91, according to the Washington Post.