RTTNews | Apr 5, 2021 07:43AM EDT

07:43 Monday, April 5, 2021 (RTTNews.com) - Medical genetics company Invitae Corp. (NVTA) announced Monday that it has entered into a definitive agreement to acquire genomics company Genosity Inc. for approximately $200 million, consisting of approximately $120 million in cash and approximately $80 million in shares of Invitae common stock.

The acquisition would bring Genosity's specialized capabilities onto the Invitae platform to accelerate the time to market and decentralization of Invitae's personalized oncology offerings, including somatic and germline offerings poised to help transform how cancer is diagnosed, treated and monitored.

Genosity has built an industry-leading suite of highly specialized capabilities designed to support the use of next generation sequencing in oncology development and clinical care, ranging from basic research to clinical testing for regulated studies.

The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in the second quarter, subject to customary closing conditions.

Read the original article on RTTNews ( https://www.rttnews.com/3182396/invitae-to-acquire-genosity-for-200-mln-in-cash-stock-quick-facts.aspx)

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