Natera Acquires Invitae’s Reproductive Health Assets Amid Cost-Cutting Measures
January 22, 2024
Natera has acquired Invitae’s reproductive health assets, including noninvasive prenatal and carrier screening tests, for $10 million upfront and an additional potential $42.5 million. This follows a legal victory where Natera barred Invitae from using its Personalized Cancer Monitoring tests. Invitae’s decision to sell is part of its strategy to reduce operating expenses by about $44 million annually, focusing on genetic information for oncology and rare diseases. Invitae, facing financial challenges with a $1.34 billion net loss in the first nine months of 2023 and a declining stock price, has also divested its Ciitizen platform and implemented layoffs to save costs. The acquisition deal, amidst a patent battle win for Natera, involves transferring customers and hiring Invitae’s sales staff.
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[Source: Fierce Biotech, January 22nd, 2024]
