Invitae, a medical genetic testing company, has filed for Chapter 11 bankruptcy and intends to continue the case without disrupting operations using cash on hand and while seeking to sell its business.
The San Francisco-based company is seeking approval from the U.S. Bankruptcy Court for the District of New Jersey to use its cash on hand to fund the case.
In its bankruptcy petition, the...
CHICAGO – Implementing precision medicine programs could allow health systems to diagnose disease more quickly or predict a patient's response to a specific mediation, said panelists at the 2023 HIMSS Global Health Conference & Exhibition.
But there are challenges to putting together an effective genomics program, said Jackie Rice, vice president for information technology and chief...
Fertility company Kindbody announced Tuesday it will bring genetic testing in-house with the acquisition of Phosphorus Labs.
The deal will provide Kindbody with a reference lab in Secaucus, N.J., as well as Phosphorus' staff of geneticists and lab technicians, who will join the fertility startup's new KindLabs division.
This acquisition marks Kindbody's second in 2022. In February, the company...
Consumer genetics company 23andMe scored FDA 510(k) clearance for a test to detect a hereditary marker for prostate cancer.
The risk report provides information on whether users have the G84E mutation in the HOXB13 gene, which studies have shown can increase a person’s risk of developing prostate cancer.
This FDA greenlight marks 23andMe’s third 510(k). It also has four De Novo clearances, one of...
Consumer genetics company 23andMe announced Friday it has signed a definitive agreement to acquire telehealth and online prescription platform Lemonaid Health for $400 million.
The price tag, subject to downward adjustments, will be made up of 25% in cash and 75% in stock. The companies expect the acquisition to close by the end of the year.
“We believe that by combining Lemonaid Health’s...
Medical genetic testing company Invitae announced Tuesday it had signed a definitive agreement to acquire Ciitizen, a startup that helps users access and organize their health records, for about $325 million.
The terms of the deal include around $125 million in cash and approximately 7,070,000 shares of Invitae common stock. Invitae will also issue about $226 million restricted stock units to new...
SNP chips, a type of DNA microarray frequently employed by consumer genomics companies, are "extremely unreliable" when identifying clinically-relevant variants that are rare among the general population, according to a retrospective study recently published in The BMJ.
The investigation, conducted by researchers from the University of Exeter, reviewed sequencing data from nearly 50,000...
Consumer genomics company Ancestry recently received two FDA 510(k)s – one for an in vitro molecular test that detects genomic variants tied to potential disease risk, and another for a saliva-based DNA specimen-collection kit.
Both of these submissions were received by the FDA in October of last year, which officially cleared them on August 13, according to the agency's 510(k) database.
Each was...
Ancestry, a consumer genomic testing company focused on family history, is now turning to the health space with its launch of AncestryHealth. The new product is aimed at giving customers insights into the health risks associated with their genes and family history.
As part of the new services customers can get tests that are ordered by doctors. The service will also provide education resources...
About the Authors: Joshua Barrett is a member of the 2019 Flare Capital Partners Scholar program and a third-year medical student at Georgetown University School of Medicine, who completed his MBA at the Columbia Business School. He plans to pursue a career in healthcare technology or life sciences investing.
Dr. Dan Gebremedhin (@dangebremedhin) is a partner at Flare Capital Partners, a...
