Invitae raises $40 million E round

Genetic diagnostics company Invitae Corp. (San Francisco, Calif.) raised $40 million in a series E round. Investors in the round include cancer diagnostic company Genomic Health Inc. (NASDAQ:GHDX) and Invitae co-founder, Chairman and CEO Randy Scott. Scott is also co-founder and former CEO and chairman of Genomic Health. Other investors in the E round include existing investors Thomas McNerney & Partners and Genesys Capital Partners, along with new investors Redmile Group and Casdin Capital.

Last year, Genomic Health created Invitae as a subsidiary to commercialize testing services for genetic conditions. The company subsequently merged the subsidiary with fellow genetic testing company Locus Development Inc. to create a standalone company. Scott was a director of Locus, in which Genomic Health and Thomas McNerney had also invested. ...