Invitae Expands Test Menu To Include Hundreds Of New Genes, Dozens Of New Test Panels For Cancer, Cardiology, Neuromuscular, Pediatrics And Rare Disorders
-- Company announces it exceeded its goal with more than 600 genes in production, commercially launching new panels immediately and throughout the end of 2015 --
-- Hosting an investor conference call today at 4:30 p.m. ET --
SAN FRANCISCO, October 7, 2015 -- Invitae Corporation (NYSE: NVTA), a genetic information company, today announced that it has more than doubled the size of its genetic testing platform to include more than 600 genes and will begin releasing the new content between now and the end of the year. Invitae is immediately expanding its menu with dozens of new test panels for hereditary cancer, cardiovascular, neuromuscular, pediatric and other rare disorders.
With this expanded test menu, Invitae will be able to provide clinicians, patients and payers with the same high quality genetic information for a greatly expanded number of genes and disorders, all at the same price and with rapid turnaround times.
“We successfully increased our capacity to test for more than 600 genes, an increase from our initial plan of more than 500 genes, without increasing our prices. We are proud to now offer many more comprehensive and affordable cancer and cardiology genetic test panels, as well as expanded neuromuscular, pediatric and rare disease test panels, to help clinicians and their patients,” said Randy Scott, chairman and CEO of Invitae. “Importantly, we’re delivering on our promise of lowering the cost of genetic testing to ensure cost is not a barrier for patients and to make a positive impact on the otherwise skyrocketing cost of healthcare.”
Invitae’s expanded offering includes:
• Comprehensive cancer testing: More than 40 test panels, comprised of more than 70 carefully curated genes. The Invitae hereditary cancer menu consists of a mix of broader tests, as well as smaller focused panels. The new offering includes a new common hereditary cancers panel and a gastric cancer panel, as well as expanded breast, breast and gynecologic, colon, and pancreatic cancer panels.
• Comprehensive cardiovascular testing: More than 30 test panels, representing more than 190 carefully curated genes. The new test menu includes large combination panels for several conditions, including arrhythmias,
cardiomyopathies, aortopathies, familial hypercholesterolemia, pulmonary hypertension, and congenital heart disease. • Expanded neuromuscular testing: 15 major test panels, comprised of nearly 100 carefully curated genes for disorders including Duchenne/Becker muscular dystrophy, dystonia, Charcot-Marie-Tooth disease, and hereditary spastic paraplegia.
• Expanded pediatric and rare disorder testing: More than 40 test panels, comprised of more than 140 carefully curated genes, for disorders including RASopathies and primary ciliary dyskinesia (PCD). Invitae also continues to offer testing for hematology-related disorders, including hereditary hemochromatosis and hereditary thrombophilia.
Before the end of the year, Invitae plans to further expand its cancer offering to include all hereditary cancers, including blood, bone, brain, endocrine, genitourinary, pancreatic, and skin cancers, as well as sarcomas.
Invitae offers a transparent pricing structure independent of the number of genes required to provide an accurate diagnosis for any specific clinical indication. For payers and institutions who are in contract with Invitae, the price per indication can be as low as $950, depending on the payer’s requirements. For third-party payers with whom Invitae is out of network and for non-contracted institutions, the price per indication remains $1,500. In addition, for patients without third-party insurance coverage or who do not meet insurance criteria for coverage, Invitae offers its full test menu for $475 per indication for patients whose clinician has ordered the testing online and who register online and pay in advance for the testing.
The company is on target to reach its near-term goal of offering a test menu that includes more than 1,000 genes for under $1,000 per indication in the middle of 2016.
Conference call details
Invitae will host a live conference call and webcast today at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss the expanded test menu.
The dial-in numbers for the conference call are (877) 201-0168 for domestic callers and (647) 788-4901 for international callers, and the reservation number for both is 55474881.
The live, listen-only webcast of the conference call may be accessed by visiting the investors section of the company's website at ir.invitae.com. A replay of the webcast will be available shortly after the conclusion of the call and will be archived on the company's website.
About Invitae
Invitae Corporation's (NYSE: NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. Invitae’s goal is to aggregate most of the world’s genetic tests into a single service with higher quality, faster turnaround time, and lower price than many single-gene and panel tests today. The company currently provides a single diagnostic service comprising hundreds of genes for a variety of genetic disorders associated with oncology, cardiology, neurology, pediatrics and other rare disease areas.
For more information, visit our website at www.invitae.com and follow us on @twitter: @invitae.
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-- Hosting an investor conference call today at 4:30 p.m. ET --
SAN FRANCISCO, October 7, 2015 -- Invitae Corporation (NYSE: NVTA), a genetic information company, today announced that it has more than doubled the size of its genetic testing platform to include more than 600 genes and will begin releasing the new content between now and the end of the year. Invitae is immediately expanding its menu with dozens of new test panels for hereditary cancer, cardiovascular, neuromuscular, pediatric and other rare disorders.
With this expanded test menu, Invitae will be able to provide clinicians, patients and payers with the same high quality genetic information for a greatly expanded number of genes and disorders, all at the same price and with rapid turnaround times.
“We successfully increased our capacity to test for more than 600 genes, an increase from our initial plan of more than 500 genes, without increasing our prices. We are proud to now offer many more comprehensive and affordable cancer and cardiology genetic test panels, as well as expanded neuromuscular, pediatric and rare disease test panels, to help clinicians and their patients,” said Randy Scott, chairman and CEO of Invitae. “Importantly, we’re delivering on our promise of lowering the cost of genetic testing to ensure cost is not a barrier for patients and to make a positive impact on the otherwise skyrocketing cost of healthcare.”
Invitae’s expanded offering includes:
• Comprehensive cancer testing: More than 40 test panels, comprised of more than 70 carefully curated genes. The Invitae hereditary cancer menu consists of a mix of broader tests, as well as smaller focused panels. The new offering includes a new common hereditary cancers panel and a gastric cancer panel, as well as expanded breast, breast and gynecologic, colon, and pancreatic cancer panels.
• Comprehensive cardiovascular testing: More than 30 test panels, representing more than 190 carefully curated genes. The new test menu includes large combination panels for several conditions, including arrhythmias,
cardiomyopathies, aortopathies, familial hypercholesterolemia, pulmonary hypertension, and congenital heart disease. • Expanded neuromuscular testing: 15 major test panels, comprised of nearly 100 carefully curated genes for disorders including Duchenne/Becker muscular dystrophy, dystonia, Charcot-Marie-Tooth disease, and hereditary spastic paraplegia.
• Expanded pediatric and rare disorder testing: More than 40 test panels, comprised of more than 140 carefully curated genes, for disorders including RASopathies and primary ciliary dyskinesia (PCD). Invitae also continues to offer testing for hematology-related disorders, including hereditary hemochromatosis and hereditary thrombophilia.
Before the end of the year, Invitae plans to further expand its cancer offering to include all hereditary cancers, including blood, bone, brain, endocrine, genitourinary, pancreatic, and skin cancers, as well as sarcomas.
Invitae offers a transparent pricing structure independent of the number of genes required to provide an accurate diagnosis for any specific clinical indication. For payers and institutions who are in contract with Invitae, the price per indication can be as low as $950, depending on the payer’s requirements. For third-party payers with whom Invitae is out of network and for non-contracted institutions, the price per indication remains $1,500. In addition, for patients without third-party insurance coverage or who do not meet insurance criteria for coverage, Invitae offers its full test menu for $475 per indication for patients whose clinician has ordered the testing online and who register online and pay in advance for the testing.
The company is on target to reach its near-term goal of offering a test menu that includes more than 1,000 genes for under $1,000 per indication in the middle of 2016.
Conference call details
Invitae will host a live conference call and webcast today at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss the expanded test menu.
The dial-in numbers for the conference call are (877) 201-0168 for domestic callers and (647) 788-4901 for international callers, and the reservation number for both is 55474881.
The live, listen-only webcast of the conference call may be accessed by visiting the investors section of the company's website at ir.invitae.com. A replay of the webcast will be available shortly after the conclusion of the call and will be archived on the company's website.
About Invitae
Invitae Corporation's (NYSE: NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. Invitae’s goal is to aggregate most of the world’s genetic tests into a single service with higher quality, faster turnaround time, and lower price than many single-gene and panel tests today. The company currently provides a single diagnostic service comprising hundreds of genes for a variety of genetic disorders associated with oncology, cardiology, neurology, pediatrics and other rare disease areas.
For more information, visit our website at www.invitae.com and follow us on @twitter: @invitae.
Help employers find you! Check out all the jobs and post your resume.