US-based genetic information company Invitae Corporation closed a $120m series F financing round yesterday backed by a consortium of investors including clinical services company Genomic Health.
The other investors in the round were Broe Group, Decheng Capital, Deerfield Management, OrbiMed, Perceptive Advisors, Rock Springs Capital, Wellington Management Company, Casdin Capital, Genesys Capital, Randy Scott, Redmile Group and Thomas McNerney & Partners.
Formed in 2012 as a subsidiary of Genomic Health, Invitae aims to aggregate all available genetic tests into a single system that would be faster, cheaper and a higher quality than most current single-gene diagnostic tests, in turn bringing genetic information into routine medical practice.
The round took Invitae’s overall funding to $207m, the company having closed a $40m Genomic Health-backed series E round in December 2013.
Invitae will direct the funding toward establishing the infrastructure of its business, while also looking to expand internationally.