– The partnership will harness genetic and
clinical data from millions of patients tested at Invitae and
Deerfield's expertise in drug discovery to address high unmet needs
among rare disease patients –
SAN
FRANCISCO, March 22, 2023 /PRNewswire/ --
Invitae (NYSE: NVTA), a leading medical genetics company, and
Deerfield Management Company, a healthcare investment firm, today
announced a partnership to advance genetics-based drug discovery
and development in rare disease. The partnership will leverage
genetics and clinical data from millions of patients and
Deerfield's broad drug discovery and development expertise.
"Invitae's core objectives include expanding access to genetic
information to improve healthcare for patients. Through this
partnership, we intend to serve millions of families affected by
rare diseases with high unmet needs," said Farid Vij, general manager of patient network
and data at Invitae. "Our genetic and clinical data platform is
highly enriched with patients possessing rare disorders, enabling a
deeper understanding of the natural history and genetic basis of
these diseases, and improving the success rate of new clinical
programs."
"Despite significant research efforts, there are thousands of
rare diseases without a line of sight toward a viable therapeutic
intervention," said Matt Nelson,
head of genetics and genomics at Deerfield Management. "Invitae's
unique data and analytics capabilities position it to interrogate
genetic effects on rare and many other diseases. With Deerfield's
extensive experience in rare diseases and drug discovery, we
believe there is strong potential for this partnership to uncover
valuable patient insights and create important therapies for a
range of currently untreatable conditions."
Precision medicine offers great promise to address unmet needs
of rare disease patients, but to be successful, scientists need
access to focused genetic and clinical data across sizable patient
populations. For rare diseases, these data are hard to find. For
example, large scale genetic biobanks have been valuable for
driving forward research, but they, at times, leave rare disease
researchers searching for additional data on symptomatic and
diverse patients.
Invitae and Deerfield aim to address notable research gaps by
drawing insights from Invitae's data platform, which includes
sizable cohorts of rare disease patients. The companies will
collaborate to analyze data from the over 3.6 million genetic tests
delivered by Invitae linked to longitudinal clinical data, strictly
in accordance with patients' preferences for sharing of their data.
With these data and analytics expertise, together Invitae and
Deerfield will be well-suited to uncover insights needed to
discover and validate novel rare disease targets.
"Both large and small biopharma companies are constantly seeking
ways to improve efficiency and success rates in their discovery and
development programs. This partnership demonstrates how Invitae can
support biopharma partners in discovering and validating new
precision therapies," said Daniel
Anderson, head of patient network and data partnerships at
Invitae. "Beyond the opportunity to deliver new medicines together
with the Deerfield team, this partnership further substantiates the
many ways our unique datasets and analytical capabilities can
create value."
About Invitae
Invitae (NYSE: NVTA) is a leading
medical genetics company trusted by millions of patients and their
providers to deliver timely genetic information simplified by
digital technology. With accurate and actionable answers to
strengthen medical decision-making, Invitae gives individuals and
their families powerful, personalized insights that could improve
and extend their lives. Invitae's genetics experts apply a rigorous
approach to data and research, serving as the foundation of their
mission to bring comprehensive genetic information into mainstream
medicine to improve healthcare for billions of people.
To learn more, visit invitae.com and follow for
updates on Twitter, Instagram,
Facebook and LinkedIn @Invitae.
About Deerfield Management
Deerfield is an investment
management firm committed to advancing healthcare through
investment, information and philanthropy. The Firm works across the
healthcare ecosystem to connect people, capital, ideas and
technology in bold, collaborative and inclusive ways. For more
information, visit www.deerfield.com.
Safe Harbor Statement
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's goals with respect to the partnership;
the intended structure and potential benefits of the partnership;
the company's intentions regarding the number of families that the
partnership will serve; the company's beliefs regarding the
capabilities of its data platform; the company's beliefs that the
partnership may uncover valuable patient insights and create
important new therapies; and the company's belief that this
partnership demonstrates how its unique datasets and analytical
capabilities can create value. 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: the impact of
inflation and the current economic environment on the company's
business; the company's ability to grow its business in a
cost-efficient manner; the company's history of losses; the
company's ability to maintain important customer
relationships; the company's ability to compete; the company's
need to scale its infrastructure in advance of demand for its tests
and to increase demand for its tests; the applicability of clinical
results to actual outcomes; risks associated with litigation; the
company's 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
the company's business; 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 Annual Report on
Form 10-K for the year ended December 31,
2022. These forward-looking statements speak only as of the
date hereof, and Invitae Corporation disclaims any obligation to
update these forward-looking statements.
Invitae PR contact:
Amy
Hadsock
pr@invitae.com
(628) 213-3283
Deerfield PR contact:
Caroline Drucker
cdrucker@cureexperience.com
(917) 588-3016
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SOURCE Invitae Corporation