Cancer treatment is increasingly moving toward targeted therapies based on the genetics of a patient’s tumor and Invitae is ensuring it gets its share of this growing market with a deal to acquire precision oncology startup ArcherDx.
San Francisco-based Invitae announced Monday that it has agreed to pay $886 million for ArcherDx—$325 million in cash plus $561 million in Invitae shares at $18.71 apiece, which was Friday’s closing price. Shareholders of privately held ArcherDx could earn up to $505 million more tied to to regulatory and sales milestones achieved by two diagnostic products that company is readying for submission to the… Read more »
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