Gene diagnostics megaplayer Invitae has raised a whopping $120 million in a Series F round – proof positive that startups operating in the vein of 23andMe are able to attract large swaths of cash. The company has a single diagnostic test that tests 200 genes for a variety of genetic disorders associated with cancer, cardiology, neurology and pediatrics.
San Francisco-based Invitae plans to direct the proceeds toward building out its infrastructure in the genetic information business, it said in a statement. It also plans to expand globally. The company, which has raised $207 million to date, has a laundry list of investors in this round that include:
New investors participating in the round included (in alphabetical order) The Broe Group, Decheng Capital, Deerfield Management LLC, OrbiMed, Perceptive Advisors, Rock Springs Capital and Wellington Management Company, LLP, among others. Existing investors participating in the financing included Casdin Capital, Genesys Capital, Genomic Health, Inc., Randy Scott, Redmile Group and Thomas McNerney & Partners, among others.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
