SAN FRANCISCO, Jan. 9, 2017 /PRNewswire/ -- Invitae Corporation
(NYSE: NVTA), one of the fastest growing genetic information
companies, today announced that Sean
George, Ph.D., its co-founder and current president and
chief operating officer, has been named chief executive officer for
the company. Current chairman and chief executive officer
Randy Scott will become executive
chairman of the board of directors and remain full time at the
company. The appointments are effective immediately.
"Sean and I share a common vision for how to bring genetic
testing into mainstream medical practice and a passion for
transforming healthcare for people around the world. Sean has been
a relentless force behind our progress toward that goal, and we're
looking forward to working together in our new roles as Invitae
accelerates the growth of genetic testing world-wide," said
Randy Scott, executive chairman of
Invitae. "Personally, I'm excited to shift my full time focus to
working with our team to help build our long term strategy for the
Invitae Genome Network and our move into the new era of genome
management. The board and I are confident that Sean's outstanding
leadership and deep knowledge of genetics will help propel the
organization forward in our goal to become a global leader in
genetics."
Dr. George was a co-founder and CEO of Locus Development, an
early stage genetic analysis startup, that changed its name to
Invitae in 2012 when it combined with a team from the Invitae
subsidiary of Genomic Health led by Dr. Scott. Prior to that, he
served as chief operating officer at Navigenics, one of the early
personal genomics companies, as well as in various leadership roles
at Affymetrix and Invitrogen. Dr. George has a B.S. in Molecular
Genetics from UCLA, an M.S. in
Molecular Biology from UC Santa Barbara, and a Ph.D. in Molecular
Genetics from UC Santa Cruz.
"It's an exciting time in our industry, especially for Invitae,
and I speak for everyone on the team in thanking Randy for his
visionary leadership. Randy has an established track record as a
cutting edge thought leader in genetics and personalized medicine,
and someone whose continued counsel will remain essential as we
expand into the next phase of our business," said Sean George, chief executive officer of Invitae.
"Thanks to Randy and everyone at Invitae, our company is no longer
a concept story but rather one of the fastest-growing companies in
genetics on the path to becoming a leader in the newly developing
genomics markets. I am honored to lead our team as we relentlessly
pursue the promise of genetic medicine as a reality for millions of
patients."
Last week, Invitae announced that it met its annual volume
guidance and grew volume by 200%, generated positive gross margins,
is projecting doubling of volume in 2017, and is accelerating the
InvitaeGenome Network by acquiring AltaVoice, a scalable
patient-centered data company.
Upcoming investor events
Invitae will be presenting
at the 35th Annual JP Morgan Healthcare Conference on Wednesday, January 11, 2017, at 2:30 p.m. Pacific at The Westin St. Francis in
San Francisco. A live, listen-only
webcast of the presentation and breakout session can be accessed by
visiting the events section of Invitae's website at
ir.invitae.com.
Invitae will report its full financial results and other metrics
during its fourth quarter and year-end 2016 conference call in
February.
About Invitae
Invitae Corporation's (NYSE: NVTA)
mission is to bring comprehensive genetic information into
mainstream medical practice to improve the quality of healthcare
for billions of people. Invitae's goal is to aggregate most of the
world's genetic tests into a single service with higher quality,
faster turnaround time, and lower price than many single-gene and
panel tests today. The company currently provides a diagnostic
service comprising hundreds of genes for a variety of genetic
disorders associated with oncology, cardiology, neurology,
pediatrics, and other rare disease areas. Additionally, the company
has created a Genome Network to connect patients, clinicians,
advocacy organizations, researchers, and drug developers to
accelerate the understanding, diagnosis, and treatment of
hereditary disease. For more information, visit our website at
invitae.com.
Safe Harbor Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
relating to the company accelerating the growth of genetic testing
world-wide; the company's new leadership roles and the future
growth and focus of the company; the company's expansion into the
next phase of its business; that the company is no longer a concept
story but rather one of the fastest-growing companies in genetics
and on a path to becoming a leader in the newly developing genomics
markets; and that the company is working to make the promise of
genetic medicine a reality for millions of patients.
Forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially, and reported
results should not be considered as an indication of future
performance. These risks and uncertainties include, but are not
limited to: risks associated with the loss of any member of the
company's senior management team; the company's ability to manage
our growth effectively; the company's ability to use rapidly
changing genetic data to interpret test results accurately,
consistently, and quickly; the company's history of losses; the
company's need to scale its infrastructure in advance of demand for
its tests and to increase demand for its tests; the company's
ability to develop and commercialize new tests and expand into new
markets; the risk that the company may not obtain or maintain
sufficient levels of reimbursement for its tests; laws and
regulations applicable to the company's business, including state
licensing requirements and potential regulation by the Food and
Drug Administration; and the other risks set forth in the company's
filings with the Securities and Exchange Commission, including the
risks set forth in the company's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2016.
These forward-looking statements speak only as of the date hereof,
and Invitae Corporation disclaims any obligation to update these
forward-looking statements.
NOTE: Invitae and the Invitae logo are trademarks of Invitae
Corporation. All other trademarks and service marks are the
property of their respective owners.
Contact:
Laura D'Angelo
pr@invitae.com
314-920-0617
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SOURCE Invitae Corporation