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The San Francisco-based genetics company Invitae Corporation said Friday that it has filed an S-1 with the Securities and Exchange Commission, pointing to the company’s intention to become a public company.
The company expects to raise $86.3 million dollars from the sale of stock, according to the filing.
J.P. Morgan Securities LLC is acting as the sole book-running manager for the offering. Cowen and Company, LLC and Leerink Partners LLC are acting as co-managers.
The number of shares to be offered and the price range for the offering have not yet been determined. Invitae intends to apply to list its common stock on The New York Stock Exchange under the symbol “NVTA.”
Invitae is a genetic testing and data company that hopes to make genetic information available to caregivers for the treatment of disease. The company told VentureBeat that it has developed a test that sequences 218 types of genes to find markers that might point toward health problems in the future. It’s focused on hereditary cancers now.
One common use of Invitae’s tests, said spokesperson Katherine Stueland, is when a doctor is advising a patient who has a disease like breast cancer in her family. The physician can pay $1,500 for a test that targets specific genetic markers in the patient’s genome that might indicate a likelihood of getting the disease — or the physician can get the full panel of 218 genes for the same price. The test runs the same way either way.
Last October the company took a sizable $120 million funding round from The Broe Group, Decheng Capital, Deerfield Management, OrbiMed, Perceptive Advisors, Rock Springs Capital, and Wellington Management Company, among others.
In total, Invitae has raised $207 million.
The company lost $8.6 million in 2012 and took a loss of $24.8 million in 2013.
For the first nine months of 2014, Invitae reported a loss of $32.2 million. For that same period, the company reported revenues of $700,000.
As of September 30, 2014, the company has an accumulated loss of $69.9 million.
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