Invitae Completes Sale of Reproductive Health Assets to Natera

Original from: PR Newswire

Invitae (NYSE: NVTA), a leading medical genetics company, today announced it has completed the sale of certain reproductive health assets, which include carrier screening and non-invasive prenatal screening, to Natera (NASDAQ: NTRA). 

The value of the transaction is up to $52.5 million, including cash, milestone payments and litigation credits. Natera has hired Invitae reproductive health sales representatives. In addition, Invitae will transition its non-invasive prenatal screening and carrier screening customers to Natera.

"Today's announcement further helps us streamline operations and focus our resources on our strengths of clinical germline genetic information and superior variant interpretation in support of millions of oncology and rare disease patients," said Ken Knight, president and chief executive officer of Invitae. 

This transaction will aid Invitae's efforts to significantly reduce operating expenses. The Company anticipates annualized operating expense cash savings of approximately $44 million from the sale, excluding one-time severance related payments.

Source: Invitae Completes Sale of Reproductive Health Assets to Natera