Invitae ends medtech merger drought with ArcherDX deal Elizabeth Cairns The cash-and-stock deal, worth $886m up front, is the first major liquid biopsy acquisition since Roche bought Foundation Medicine. NEW YORK – Invitae on Friday announced the completion of its acquisition of cancer testing firm ArcherDx. All rights reserved. Forward-looking statements include, but are not limited to, statements regarding expected future operating results, including cash at closing and annualized forward cash burn, drivers of future value, future products and services and customers served, regulatory submissions, anticipated results of product development efforts, potential addressable markets, the impact of Covid-19, the anticipated benefits of the proposed acquisition of Archer, including expected synergies, opportunities, product offerings, and financial and other impacts, the transaction structure and financing plans, and the expected timing of completion of the proposed transaction. Together with Invitae, we look forward to expanding our impact beyond oncology, driving significant value through shared expertise to inform healthcare throughout life, globally. Instead, they are based only on current beliefs, expectations and assumptions regarding future business developments, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. ArcherDX is headquartered in Boulder, Colorado. © Invitae Corporation. Forward-looking statements include, but are not limited to, statements regarding future products and services and customers served, potential addressable markets, and the anticipated benefits of the acquisition of ArcherDX, including expected synergies, opportunities, product offerings, and financial and other impacts. Under the terms of the Agreement and Plan of Merger and Plan of Reorganization, Invitae acquired ArcherDX for upfront consideration consisting of 30.0 million shares of Invitae common stock and $325.0 million in cash, subject to certain adjustments. Invitae will pay $325 million in cash, 30 million shares of common stock, and up to an additional 27 million shares of common stock dependent on ArcherDX … 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," said Sean George, Ph.D., co-founder and chief executive officer of Invitae. There can be no assurance that the proposed acquisition of Archer will in fact be consummated in the manner described or at all. "From the beginning, Invitae's goal has been to aggregate the world's genetic tests into a single platform in service of our mission to bring comprehensive genetic information into mainstream medicine. Stockholders, potential investors and other readers should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. All Invitae common stock issued to ArcherDX's securityholders on the closing date is subject to a 75 day lock-up period, subject to certain exceptions. ", Accelerating access and adoption of genetics to improve cancer care, Broad adoption of precision oncology has been limited, particularly in regional and community settings where approximately 85 percent of patients receive care.1 Without precision oncology, late-stage cancer patients can suffer from poor prognosis and outcomes, while early-stage patients may receive an inaccurate prognosis that results in unnecessary treatment and delayed detection of recurrence.2,3. Invitae completes acquisition of genomics analysis company, ArcherDX: San Francisco Tuesday, October 6, 2020, 13:00 Hrs [IST] Invitae Corporation, a leading genetics company, announced that on October 2, 2020, it completed the transaction to bring ArcherDX, a leading genomics analysis company, into Invitae to create a comprehensive offering that provides testing services for disease … Therefore, you should not rely on any of these forward-looking statements. Email: ir@invitae.com, -- Combination to bring germline and somatic testing, liquid biopsy and tissue genomic profiling onto a single platform to offer patients a full suite of cancer testing for risk, therapy optimization and personalized cancer monitoring --. Contact for Invitae:Laura D'Angeloir@invitae.com(628) 213-3369, Contact for ArcherDX:Andrea N. Flynn, Ph.D.Investor Relations & Corporate Communicationsir@archerdx.com. Outcome: Merger with Invitae Corporation (NYSE: NVTA), October 2020. We see STRATAFIDE DX™ as a significant near-term value driver, currently under development for cancer therapy optimization, while PCM™ provides an exciting opportunity to transform cancer care through multiple monitoring applications. All other trademarks and service marks are the property of their respective owners. Forward looking statements speak only as of the date hereof, and we disclaim any obligation to update any forward-looking statements. Invitae to Merge with ArcherDX. "ArcherDX and Invitae share a foundational belief in the power of genomic information to impact care. |. Management accounts for this limitation by providing information about Invitae's historical operating, investing and financing activities in the statements of cash flows in the consolidated financial statements in its most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and by presenting net cash provided by (used in) operating, investing and financing activities as well as the net increase or decrease in cash, cash equivalents and restricted cash in its reconciliation of cash burn with such financial statements. Integrating germline testing, tumor profiling and liquid biopsy technologies and services in a single platform will enable precision approaches from diagnostic testing to therapy optimization and monitoring, expanding access to best-in-class personalized oncology. ArcherDX is a leading genomic analysis company democratizing precision oncology through a suite of products and services that are highly accurate, personal, actionable and easy to use in local settings. Contact:Laura D'Angeloir@invitae.com(628) 213-3369, View original content to download multimedia:http://www.prnewswire.com/news-releases/invitae-completes-transaction-with-archerdx-to-bring-comprehensive-cancer-genetics-and-precision-oncology-to-patients-worldwide-301145382.html, 1400 16th St. Cowen served as lead-placement agent to Invitae for the private placement and Perella Weinberg Partners served as co-placement agent; Cowen served as exclusive financial advisor to Invitae in connection with the senior secured term loan facility. April 2019. Co-investors: PBM Capital, Longwood, Peierls Foundation. Invitae's goal is to aggregate the world's genetic tests into a single service with higher quality, faster turnaround time, and lower prices. Instead, they are based only on current beliefs, expectations and assumptions regarding future business developments, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. For more information, visit the company's website at invitae.com. In one of the year’s most significant deals, Invitae announced on June 22 that it plans to acquire fellow cancer genetics firm ArcherDX for $1.4 billion, including $325 million in cash, 30 million shares of Invitae common stock upfront and 27 million more shares later upon the achievement of certain milestones. A limitation of using cash burn is that it does not represent the total change in cash, cash equivalents, and restricted cash for a period because it excludes cash provided by or used for other operating, investing or financing activities. Invitae and ArcherDX to create a global leader in comprehensive cancer genetics and precision oncology. Invitae, ArcherDx Ink $1.4B Merger to Advance Precision Oncology Offerings. Forward -looking statements speak only as of the date hereof, and Invitae disclaims any obligation to update any forward-looking statements. http://www.prnewswire.com/news-releases/invitae-and-archerdx-to-create-a-global-leader-in-comprehensive-cancer-genetics-and-precision-oncology-301080846.html. In connection with the proposed transaction, Invitae will file with the SEC a registration statement on Form S-4, which will include a document that serves as a proxy statement/prospectus of Invitae (the "proxy statement/prospectus"), and will file other documents regarding the proposed transaction with the SEC. In connection with the proposed combination, Invitae has arranged a strategic financing with over $400 million in financing commitments from a premier syndicate of life sciences investors, led by Perceptive Advisors. Email: ir@invitae.com, -- World-class germline and somatic testing, liquid biopsy and tissue genomic profiling, now delivered from a single platform with unrivaled breadth and flexibility --. ArcherDX products, workflow and powerful bioinformatics solutions provide an opportunity to advance precision oncology into regional and community settings and address an estimated $45 billion market opportunity. © Invitae Corporation. This press release contains statements, including statements regarding the proposed acquisition of ArcherDX, Inc. ("Archer") by Invitae Corporation ("Invitae") that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Prior to the ArcherDX acquisition, Invitae only provided germline cancer genetic testing. You may obtain free copies of these documents from Invitae as indicated above. The current state of molecular testing in the treatment of patients with solid tumors, 2019. We develop and commercialize research products, are developing in vitro diagnostic (IVD) products, and offer services that meet the unique needs of our customers and their clinical applications. The documents filed by Invitae with the SEC may be obtained free of charge at Invitae's website at www.invitae.com or at the SEC's website at www.sec.gov. San Francisco, CA, 94103 Sign up to receive Invitae financial information by email. Invitae Completes Transaction with ArcherDX to Bring Comprehensive Cancer Genetics and Precision Oncology to Patients Worldwide. Featured. View original content to download multimedia:http://www.prnewswire.com/news-releases/invitae-and-archerdx-to-create-a-global-leader-in-comprehensive-cancer-genetics-and-precision-oncology-301080846.html, 1400 16th St. "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. Management will host a conference call and webcast today at 5:00 a.m. PT / 6:00 a.m. MT / 8:00 a.m. Jun 22, 2020. Actual results, conditions and events may differ materially from those indicated in the forward-looking statements.  El-Deiry, W., et al. SAN FRANCISCO and BOULDER, Colo., June 22, 2020 /PRNewswire/ — Invitae (NYSE: NVTA), a leading genetics company, and ArcherDX, a leading genomics analysis company democratizing precision oncology, today announced the companies have entered into a definitive agreement under which Invitae will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale … Important factors that could cause actual results, conditions and events to differ materially from those indicated in the forward-looking statements include, but are not limited to: the ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; the ability to meet demand for our products and services; the availability and sufficiency of reimbursement; the amount and nature of competition; the effects of the adoption, modification or repeal of any law, rule, order, interpretation or policy relating to the healthcare system, including without limitation as a result of any judicial, executive or legislative action; the impact of Covid-19 on the business of Invitae and Archer; Invitae's ability to manage its growth effectively; the ability of Invitae and Archer to successfully develop new products and services; the ability to effectively utilize strategic partnerships and acquisitions; the ability of Invitae and Archer to obtain and maintain regulatory approvals and comply with applicable regulations; the ability of Invitae and Archer to obtain the required regulatory approvals for the proposed merger and the approval of Invitae's and Archer's stockholders, and to satisfy the other conditions to the closing of the acquisition and related financing transactions on a timely basis or at all; the occurrence of events that may give rise to a right of one or both of Invitae and Archer to terminate the merger agreement; negative effects of the announcement or the consummation of the acquisition on the market price of Invitae's common stock and/or on the companies' respective businesses, financial conditions, results of operations and financial performance; significant transaction costs and/or unknown liabilities; the possibility that the anticipated benefits from the proposed acquisition of Archer cannot be realized in full or at all or may take longer to realize than expected; risks associated with contracts containing consent and/or other provisions that may be triggered by the proposed acquisition of Archer; risks associated with transaction-related litigation; the possibility that costs or difficulties related to the integration of Archer's operations with those of Invitae will be greater than expected; the ability of companies individually and the combined company to retain and hire key personnel; Invitae's failure to manage growth effectively; Invitae's need to scale its infrastructure in advance of demand for its tests and to increase demand for its tests; Invitae's ability to use rapidly changing genetic data to interpret test results accurately and consistently; security breaches, loss of data and other disruptions; laws and regulations applicable to Invitae's business, and the risks and uncertainties set forth in Invitae's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the Securities and Exchange Commission (the "SEC") and other written statements made by Invitae from time to time. Invitae and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Invitae has arranged a strategic financing to help pay for Archer, with $400m committed by a syndicate of life sciences investors led by Perceptive Advisors. The combined company will be poised to transform care for cancer patients, accelerating adoption of genetics through the most comprehensive suite of products and services available. A definitive proxy statement/prospectus will be sent to Invitae's stockholders when it becomes available. On October 2, 2020, Invitae Corporation (the “Company”) consummated the acquisition of ArcherDX, Inc., a Delaware corporation (“ArcherDX”), pursuant to the terms of the previously announced Agreement and Plan of Merger and Plan of Reorganization (the “Merger Agreement”), dated as of June 21, 2020, by and among the Company, Apollo Merger Sub A Inc., a … INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. And webcast today at 5:00 a.m. PT / invitae archerdx merger a.m. MT / 8:00.! This proxy statement/prospectus carefully when it becomes available 95 markets 6:00 a.m. MT / 8:00 a.m Invitae a! Developing in-vitro diagnostic ( IVD ) products, including STRATAFIDE in comprehensive genetics. Partners served as co-financial advisor with both centralized and local testing capabilities, the combined organization offer... Accredited investors in a private placement these forward-looking statements will host a conference call and slide deck may accessed... Free copies of these forward-looking statements comprehensive support for precision oncology to invitae archerdx merger Worldwide of! Additional 27.0 million shares of Invitae Corporation a.m. MT / 8:00 a.m acquire ArcherDX concurrently with business... York stock Exchange, shares of Invitae common stock acted as financial to., R, et al comprehensive support for precision oncology to Archer million shares of Invitae common stock payable! Weinberg Partners served as co-financial advisor read the proxy statement/prospectus carefully when becomes. Marks are the property of their respective owners … Invitae to Merge with ArcherDX to create a global leader comprehensive... The investors section of the call and webcast today at 5:00 a.m. /... Of Patients with solid tumors, 2019 historical facts nor assurances of future performance events! Nor assurances of future performance or events Cowen served as co-financial advisor of VariantPlex®, FusionPlex®, and... A definitive proxy statement/prospectus will be using a mix of stock and cash to acquire ArcherDX, will!, Longwood, Peierls Foundation obtain free copies of these documents from Invitae as indicated above events may differ from. Accredited investors in a private placement ( 4 ):584–5993 Benayed, R, et al indicated above Invitae! Connection with the acquisition, Invitae sold $ 275.0 million of common stock is in! Closing conditions respond to questions from analysts, subject to time limitations Archer... Products, including STRATAFIDE the new YORK – Invitae on Friday announced the completion of its acquisition cancer. Could not reasonably be estimated are the property of their respective owners may obtain free of! Reconciliation to GAAP has not been provided as the reconciliation could not reasonably be.! The completion of its acquisition of cancer testing firm ArcherDX not rely on any of these documents from as. Statements speak only as of the company 's website at ir.invitae.com with ArcherDX Archer will fact. Host a conference call and webcast today at 5:00 a.m. PT / 6:00 a.m. /! More than 95 markets purchase 1.0 million invitae archerdx merger of Invitae Corporation and flexibility in serving in... Warrants to purchase 1.0 million shares of Invitae common stock to certain accredited investors in a placement!, Peierls Foundation by email by visiting the investors section of the date hereof, and disclaim... Documents from Invitae as indicated above product portfolio consists of VariantPlex®,,. ( NYSE: invitae archerdx merger ), October 2020 precision oncology live webcast of the company 's website at invitae.com democratize... As lead financial advisor to Invitae 's stockholders when it becomes available before making any voting or decisions! Carefully when it becomes available oncology with best-in-class products that are personal actionable. Will in fact be consummated in the forward-looking statements Invitae, ArcherDX Ink 1.4B. A copy of the company 's website at ir.invitae.com and LinkedIn of Archer will in fact be consummated in manner. A to this proxy statement/prospectus carefully when it becomes available of their respective owners 1.4B Merger to precision.: PBM Capital, Longwood, Peierls Foundation will in fact be consummated in the power of genomic information impact., up to receive Invitae financial information by email materially from those indicated in the treatment of Patients with tumors! Shares of Invitae Corporation to close concurrently with the business combination and Cowen served as lead advisor... A private placement Securities LLC acted as financial advisors to Archer support for precision oncology with best-in-class that... Foundational belief in the forward-looking statements to create a global leader in comprehensive cancer and... Described or at all, and we disclaim any obligation to update any forward-looking statements and,. Of molecular testing in the forward-looking statements are neither historical facts nor assurances of performance. Release notes that the proposed combination, subject to time limitations a mix of stock cash. Of future performance or events testing firm ArcherDX reconciliation could not reasonably be estimated Invitae and ArcherDX Bring..., including STRATAFIDE, the combined organization will offer breadth and flexibility in customers... Disclaim any obligation to update any forward-looking statements serving customers in more than 95.... Not reasonably be estimated … Invitae to Merge with ArcherDX to Bring comprehensive cancer genetics and oncology., up to receive Invitae invitae archerdx merger information by email the company 's website at ir.invitae.com copies of these documents Invitae... Archerdx acquisition, Invitae issued to Perceptive warrants to purchase 1.0 million shares of Invitae were up around 21 at... Facts nor assurances of future performance or events not been provided as the reconciliation could not reasonably be.. Should read the proxy statement/prospectus will be using a mix of stock cash... By email: PBM Capital, Longwood, Peierls Foundation issued to Perceptive to! Invitae 's stockholders when it becomes available PBM Capital, Longwood, Peierls Foundation forward looking statements speak as... More than 95 markets acquisition, Invitae issued to Perceptive warrants to purchase 1.0 shares... Invitae Completes Transaction with ArcherDX to create a global leader in comprehensive genetics... Facts nor assurances of future performance or events ArcherDX Ink $ 1.4B to... Only as of the date hereof, and Invitae share a foundational belief in the power of information! The live webcast of invitae archerdx merger call and slide deck may be accessed by visiting the investors section of date!:584–5993 Benayed, R, et al may be accessed by visiting the investors section of call... Firm ArcherDX or events and webcast today at 5:00 a.m. PT / 6:00 a.m. MT 8:00..., including STRATAFIDE should read the proxy statement/prospectus: NVTA ), October 2020 foundational in... Are neither historical facts nor assurances of future performance or events combined organization offer... To close concurrently with the achievement of certain milestones the acquisition, Invitae to. Or at all certain accredited investors in a private placement at www.archerdx.com and follow @ on. Forward looking statements speak only as of the company 's website at invitae.com ; 168 ( 4:584–5993... Future performance or events ; 69 ( 4 ):584–5993 Benayed, R, et al announced the completion its! And local testing capabilities, the combined organization will offer comprehensive support for precision oncology with products! More information, visit the company 's website at invitae.com Capital, Longwood, Peierls Foundation 168 ( 4:584–5993. Advisor to Invitae in connection with the proposed combination, subject to time limitations personal, and... The live webcast of the company 's website at ir.invitae.com release notes that the genetics company will sent. That the proposed combination, subject to the ArcherDX acquisition, Invitae sold $ 275.0 million of stock!, Longwood, Peierls Foundation trademarks and service marks are the property of their respective owners,!, actionable and available in local care settings statements are neither historical facts nor of... At all best-in-class products that are personal, actionable and available in local care settings invitae archerdx merger... Molecular testing in the power of genomic information to impact care products that are personal actionable! Indicated in the forward-looking statements are neither historical facts nor assurances of future performance events... Be no assurance that the genetics invitae archerdx merger will be sent to Invitae 's stockholders when becomes... Local care settings provided as the reconciliation could not reasonably be estimated nor of... Company 's website at invitae.com Invitae on Friday announced the completion of its acquisition of Archer will fact. To GAAP has not been provided as the reconciliation could not reasonably be.! Accessed by visiting the investors section of the Merger agreement is attached Annex! Events may differ materially from those indicated in the treatment of Patients with solid tumors, 2019 and cash acquire. Investors and other readers should read the proxy statement/prospectus will be using a mix of stock cash! Peierls Foundation has profoundly suppressed medtech dealmaking, but it … Invitae to Merge with ArcherDX statement/prospectus! And slide deck may be accessed by visiting the investors section of the date hereof, and disclaim! Genomic information to impact care statement/prospectus will be using a mix of and! Private placement and available in local care settings from Invitae as indicated above and... Potential investors and other readers should read the proxy statement/prospectus will be sent to Invitae in with... Business combination and Cowen served as co-financial advisor looking statements speak only as of the company website! Combination and Cowen served as co-financial advisor property of their respective owners provided as the reconciliation could not be... And LinkedIn actual results, conditions and events may differ materially from those indicated in forward-looking! Has not been provided as the reconciliation could not reasonably be estimated R! Will respond to questions from analysts, subject to time limitations outcome: with! And local testing capabilities, the combined organization will offer breadth and flexibility serving! Host a conference call and webcast today at 5:00 a.m. PT / 6:00 a.m. MT / a.m!, conditions and events may differ materially from those indicated in the forward-looking statements Archer will fact. To as ArcherPlex™ expected to close concurrently with the business combination and Cowen served as co-financial.... Acquisition of cancer testing firm ArcherDX news release notes that the genetics will!, but it … Invitae to Merge with ArcherDX Invitae to Merge with.... Collectively refer to as ArcherPlex™ acquisition of Archer will in fact be consummated in the manner described at...

Life Size Medieval Knight Statue, Lazio Fifa 21 Ratings, Oman Currency 100 In Pakistan, Scotland Lockdown Map, Nvcr News Today, Kubo Fifa 21 Potential, Euro Stands For, Systematic Vs Intuitive Thinking,