Under the terms of the agreement, Invitae will acquire ArcherDX for upfront consideration consisting of 30 million shares of Invitae common stock and $325 million in cash, plus up to an additional 27 million shares of Invitae common stock payable in connection with the achievement of certain milestones, for an overall transaction valued at approximately $1.4 billion. We are thrilled to unite with Invitae to form the leading hub for precision oncology, diagnostics, therapy optimization and monitoring, with an opportunity to accelerate both patient care and shareholder value," said Jason Myers, Ph.D., chief executive officer and co-founder of ArcherDX. Instead, they are based only on current beliefs, expectations and assumptions regarding future business developments, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. For more information, visit the company's website at invitae.com. © Invitae Corporation. In connection with the proposed transaction, Invitae will file with the SEC a registration statement on Form S-4, which will include a document that serves as a proxy statement/prospectus of Invitae (the "proxy statement/prospectus"), and will file other documents regarding the proposed transaction with the SEC. Actual results, conditions and events may differ materially from those indicated in the forward-looking statements. ArcherDX is headquartered in Boulder, Colorado. Invitae will pay $325 million in cash, 30 million shares of common stock, and up to an additional 27 million shares of common stock dependent on ArcherDX … Invitae has also entered into a fully committed credit facility for up to $200 million with Perceptive Credit Opportunities Funds, subject to certain customary closing conditions. Invitae, ArcherDx Ink $1.4B Merger to Advance Precision Oncology Offerings. High yield of RNA sequencing for targetable kinase fusions in lung adenocarcinomas with no driver alteration detected by DNA sequencing and low tumor mutation burden. Cell. SAN FRANCISCO and BOULDER, Colo., June 22, 2020 /PRNewswire/ — Invitae (NYSE: NVTA), a leading genetics company, and ArcherDX, a leading genomics analysis company democratizing precision oncology, today announced the companies have entered into a definitive agreement under which Invitae will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale … The live webcast of the call and slide deck may be accessed by visiting the investors section of the company's website at ir.invitae.com. Together, the company will be ideally positioned to serve customers across the continuum, from individuals and community clinicians to biopharmaceutical partners, distribution partners, reference laboratories and academic centers. http://www.prnewswire.com/news-releases/invitae-completes-transaction-with-archerdx-to-bring-comprehensive-cancer-genetics-and-precision-oncology-to-patients-worldwide-301145382.html. The merger, which Invitae announced in June, adds tumor profiling and liquid biopsy technologies for predicting and monitoring therapeutic response to Invitae's service offerings. SAN FRANCISCO and BOULDER, Colo., June 22, 2020 /PRNewswire/ -- Invitae (NYSE: NVTA), a leading genetics company, and ArcherDX, a leading genomics analysis company democratizing precision oncology, today announced the companies have entered into a definitive agreement under which Invitae will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale in cancer … The placement is expected to close concurrently with the proposed combination, subject to the satisfaction of customary closing conditions. Starting from risk profiling and diagnostic testing, moving to therapy optimization, monitoring and recurrence surveillance, Invitae can deliver the information needed to enable best-in-class personalized cancer care," said Sean George, Ph.D., co-founder and chief executive officer of Invitae. Jun 22, 2020. Actual results, conditions and events may differ materially from those indicated in the forward-looking statements. Lockdown has profoundly suppressed medtech dealmaking, but it … Contact:Laura D'Angeloir@invitae.com(628) 213-3369, View original content to download multimedia:http://www.prnewswire.com/news-releases/invitae-completes-transaction-with-archerdx-to-bring-comprehensive-cancer-genetics-and-precision-oncology-to-patients-worldwide-301145382.html, 1400 16th St. Important factors that could cause actual results, conditions and events to differ materially from those indicated in the forward-looking statements include, but are not limited to: the ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; the ability to meet demand for our products and services; the availability and sufficiency of reimbursement; the amount and nature of competition; the effects of the adoption, modification or repeal of any law, rule, order, interpretation or policy relating to the healthcare system, including without limitation as a result of any judicial, executive or legislative action; the impact of COVID-19 on our business; our ability to manage growth effectively; our ability to successfully develop new products and services; the ability to effectively utilize strategic partnerships and acquisitions; our ability to obtain and maintain regulatory approvals and comply with applicable regulations; negative effects of the consummation of the acquisition on the market price of our common stock and/or on the companies' respective businesses, financial conditions, results of operations and financial performance; significant transaction costs and/or unknown liabilities; the possibility that the anticipated benefits from the acquisition of ArcherDX cannot be realized in full or at all or may take longer to realize than expected; risks associated with contracts containing consent and/or other provisions that may be triggered by the acquisition of ArcherDX; risks associated with litigation; the possibility that costs or difficulties related to the integration of ArcherDX's operations with those of Invitae will be greater than expected; our ability to retain and hire key personnel; our need to scale our infrastructure in advance of demand for our tests and to increase demand for our tests; our ability to use rapidly changing genetic data to interpret test results accurately and consistently; security breaches, loss of data and other disruptions; laws and regulations applicable to our business; and the risks and uncertainties set forth in our reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the Securities and Exchange Commission (the "SEC") and other written statements made by us from time to time, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. The dial-in numbers for the conference call are (866) 324-3683 for domestic callers and (509) 844-0959 for international callers, and the reservation number for both is 7097864. Email: ir@invitae.com, -- Combination to bring germline and somatic testing, liquid biopsy and tissue genomic profiling onto a single platform to offer patients a full suite of cancer testing for risk, therapy optimization and personalized cancer monitoring --. Since the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, Invitae has sold under its ATM facility approximately 2.6 million shares of common stock for aggregate gross proceeds of $46 million at an average price of $17.59 per share. ", "Integrating all aspects of cancer genetics can transform care for patients and the flexibility that comes from both centralized and decentralized capabilities will uniquely position Invitae to meet the needs of customers worldwide," continued Dr. George. Please note, after dialing in, you will be prompted to enter the Conference ID and then the pound "#" sign to enter the call. ArcherDX is also currently developing in-vitro diagnostic (IVD) products, including STRATAFIDE. "From the beginning, Invitae's goal has been to aggregate the world's genetic tests into a single platform in service of our mission to bring comprehensive genetic information into mainstream medicine. Invitae ends medtech merger drought with ArcherDX deal Elizabeth Cairns The cash-and-stock deal, worth $886m up front, is the first major liquid biopsy acquisition since Roche bought Foundation Medicine. Our research product portfolio consists of VariantPlex®, FusionPlex®, LiquidPlex™ and Immunoverse™, which we collectively refer to as ArcherPlex™. Invitae's goal is to aggregate the world's genetic tests into a single service with higher quality, faster turnaround time, and lower prices. Forward-looking statements are neither historical facts nor assurances of future performance or events. "ArcherDX and Invitae share a foundational belief in the power of genomic information to impact care. Evercore and J.P. Morgan Securities LLC acted as financial advisors to Archer. ArcherDX is a leading genomic analysis company democratizing precision oncology through a suite of products and services that are highly accurate, personal, actionable and easy to use in local settings. Therefore, you should not rely on any of these forward-looking statements. Featured. Our ArcherDX® platform, with our proprietary Anchored Multiplex PCR (AMP™) chemistry at the core, has enabled us to develop industry-leading products and services with the goal to optimize therapy and enable cancer monitoring across sample types. Under the terms of the Agreement and Plan of Merger and Plan of Reorganization, Invitae acquired ArcherDX for upfront consideration consisting of 30.0 million shares of Invitae common stock and $325.0 million in cash, subject to certain adjustments. All other trademarks and service marks are the property of their respective owners. "With the addition of ArcherDX's technologies, capabilities and team, Invitae is now well positioned to accelerate the utilization of genetic information throughout a cancer patient's journey. Invitae has quickly become a leader in diagnostic and hereditary risk testing and has strong relationships with clinicians caring for cancer patients, including cancer genetic counselors, oncologists and imaging centers. All rights reserved. ArcherDX has developed and commercialized over 325 unique products, including research products and services in use by more than 300 laboratories worldwide and has collaborated with more than 50 biopharmaceutical companies and contract research organizations (CROs), providing services that enable biopharmaceutical companies, including partners such as AstraZeneca, BMS and Bayer, to cost-effectively accelerate drug development.  El-Deiry, W., et al. San Francisco, CA, 94103 subsidiary of Invitae, or Merger Sub B, ArcherDX, Inc., a Delaware corporation, or ArcherDX, and Kyle Lefkoff, solely in his capacity as holders’ representative, entered into an Agreement and Plan of Merger and Plan of Reorganization that provides for the acquisition of ArcherDX by Invitae. Today, we take another major step forward in that effort," said Sean George, Ph.D., co-founder and chief executive officer of Invitae. ArcherDX's platform, with its proprietary Anchored Multiplex PCR (AMP™) chemistry at the core, has enabled it to develop industry-leading products and services under investigation to optimize therapy and enable cancer monitoring across liquid and tissue samples. Forward looking statements speak only as of the date hereof, and we disclaim any obligation to update any forward-looking statements. This will have it making an upfront payment of … Transaction DetailsUnder the terms of the Agreement and Plan of Merger and Plan of Reorganization, Invitae acquired ArcherDX for upfront consideration consisting of 30.0 million shares of Invitae common stock and $325.0 million in cash, subject to certain adjustments. NOTE: Invitae and the Invitae logo are trademarks of Invitae Corporation. 2017;168(4):584–5993 Benayed, R, et al. Invitae to Merge with ArcherDX In one of the year’s most significant deals, Invitae announced on June 22 that it plans to acquire fellow cancer genetics firm ArcherDX for $1.4 billion, including $325 million in cash, 30 million shares of Invitae common stock upfront and 27 million more shares later upon the achievement of certain milestones. Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Stockholders, potential investors and other readers should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Integrating germline testing, tumor profiling and liquid biopsy technologies and services in a single platform will enable precision approaches from diagnostic testing to therapy optimization and monitoring, expanding access to best-in-class personalized oncology. A reconciliation to GAAP has not been provided as the reconciliation could not reasonably be estimated. http://www.prnewswire.com/news-releases/invitae-and-archerdx-to-create-a-global-leader-in-comprehensive-cancer-genetics-and-precision-oncology-301080846.html. SAN FRANCISCO and BOULDER, Colo., June 22, 2020 /PRNewswire/ -- Invitae (NYSE: NVTA), a leading genetics company, and ArcherDX, a leading genomics analysis company democratizing precision oncology, today announced the companies have entered into a definitive agreement under which Invitae will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale in cancer genetics and precision oncology. In connection with the closing of the acquisition, Jason Myers, Ph.D., has been appointed to Invitae's Board of Directors, effective October 2, 2020, and will serve as president of oncology. "Invitae is on a mission to increase access to molecular medicine to all who can benefit, and the addition of the ArcherDX platform builds out an important segment serving the current and future oncology landscape.". Perella Weinberg Partners served as lead financial advisor to Invitae in connection with the business combination and Cowen served as co-financial advisor. When the merger with ArcherDx closes, Invitae expects to have $425 million in cash with an annualized cash burn rate of around $130 million. Invitae and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Cash burn is calculated as net increase or decrease in cash and cash equivalents and restricted cash less (a) changes in marketable securities, (b) cash received from equity and debt financings, (c) cash received from exercises of warrants, (d) cash payments made for business acquisitions, and (e) changes in unrealized gains and losses on marketable securities. NOTE: Invitae and the Invitae logo are trademarks of Invitae Corporation. Therefore, you should not rely on any of these forward-looking statements. Together with Invitae, we look forward to expanding our impact beyond oncology, driving significant value through shared expertise to inform healthcare throughout life, globally. Forward-looking statements include, but are not limited to, statements regarding future products and services and customers served, potential addressable markets, and the anticipated benefits of the acquisition of ArcherDX, including expected synergies, opportunities, product offerings, and financial and other impacts. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Uniting Invitae and ArcherDX will offer comprehensive support for precision oncology. In Monday morning trading on the New York Stock Exchange, shares of Invitae were up around 21 percent at $22.68. There can be no assurance that the proposed acquisition of Archer will in fact be consummated in the manner described or at all. IVD products currently in development for solid tumor biomarker identification and Personalized Cancer Monitoring (PCM) have both received Breakthrough Device Designation from the FDA. NEW YORK – Invitae and ArcherDx announced Monday morning that the two genetic testing companies have agreed to merge in order to expand their footprint in the cancer genetics and precision oncology space. All statements other than statements of historical facts included in this presentation regarding strategies, synergies, prospects, financial results, operations, costs, plans, objectives, and the proposed acquisition of Archer by Invitae are forward-looking statements. Invitae Corporation (NYSE: NVTA) is a leading medical genetics company, whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people. In connection with the acquisition, Invitae sold $275.0 million of common stock to certain accredited investors in a private placement. ET to discuss the transaction. Learn more at www.archerdx.com and follow @ArcherDXInc on Twitter, Facebook and LinkedIn. Invitae has entered into a definitive agreement to sell $275 million in common stock in a private placement at a price of $16.85 per share. Under the terms of the agreement, Invitae will acquire ArcherDX for upfront consideration consisting of 30 million shares of Invitae common stock and $325 million in cash, plus up to an additional 27 million shares of Invitae common stock payable in connection with the achievement of certain milestones, for an overall transaction valued at approximately $1.4 billion. Invitae's current expectations regarding its cash at transaction close would be approximately $425 million and its annualized near-term forward cash burn is expected to be approximately $130 million. Investors and security holders will be able to obtain the registration statement and the proxy statement/prospectus free of charge from the SEC's website or from Invitae when it becomes available. Invitae's central laboratory provides support for customers who prefer to send out and can benefit from a full suite of services including reporting, clinician consultation and genetic counseling for patients, while ArcherDX's decentralized model supports geographies and customers where local control of patient reporting is either desired or required. A limitation of using cash burn is that it does not represent the total change in cash, cash equivalents, and restricted cash for a period because it excludes cash provided by or used for other operating, investing or financing activities. We see STRATAFIDE DX™ as a significant near-term value driver, currently under development for cancer therapy optimization, while PCM™ provides an exciting opportunity to transform cancer care through multiple monitoring applications. The documents filed by Invitae with the SEC may be obtained free of charge at Invitae's website at www.invitae.com or at the SEC's website at www.sec.gov. SAN FRANCISCO, Oct. 5, 2020 /PRNewswire/ -- Invitae Corporation (NYSE: NVTA), a leading genetics company, today announced that on October 2, 2020, it completed the transaction to bring ArcherDX, a leading genomics analysis company, into Invitae to create a comprehensive offering that provides testing services for disease risk, therapy optimization and personalized cancer monitoring to enable precision approaches to cancer treatment. 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