SAN FRANCISCO, Dec. 21, 2016 /PRNewswire/ -- Invitae Corporation (NYSE: NVTA), a genetic information company, today announced the availability of 24 new and 19 expanded genetic test panels, allowing clinicians to gain information on 183 new genes with clinical and diagnostic significance. This launch represents a significant expansion of the company's pediatric, neurological,and rare disease offerings, which include tests for genes associated with epilepsy, developmental disorders, overgrowth syndromes, and skeletal disorders, as well as tests in dermatology, immunology, and ophthalmology.
The panels provide clinicians, patients, and payers greater flexibility to access high-quality, affordable genetic information across a larger number of pediatric and neurological disorders, as well as rare diseases, all at the same price. Results are provided quickly, within 14 days on average.
"Genetic testing offers answers to questions important to parents and clinicians evaluating a child who may have an inherited disorder, helping to shorten what can be a very long diagnostic odyssey," said Robert Nussbaum, MD, chief medical officer of Invitae. "Invitae's new and expanded panels put an even broader menu of tests into the hands of clinicians who are constantly seeking actionable genetic information to guide their diagnosis, prognosis, and treatment."
Invitae's expanded offering includes:
- Comprehensive testing for epilepsy and epilepsy-related disorders
- Expansion of panels testing for developmental disorders, overgrowth syndromes, skeletal disorders, and RASopathies/Noonan spectrum disorders
- Incorporation of the latest genetic findings for ciliopathies into an expanded panel
- Consolidation of clinical areas enabling customers to order a broader set of tests that are relevant for the patient at a single price and with a single specimen
"Early and accurate diagnosis is critical when evaluating children facing the possibility of a genetic disorder. Many of these diseases progress rapidly, making early intervention essential," said Steven Bleyl, MD, PhD, medical director, Chief Medical Officer, Genome Medical and Associate Professor, Pediatric Cardiology, University of Utah. "Reaching a molecular diagnosis helps clinicians identify the best treatment options for their patients, improving care, and potentially saving lives. Invitae's approach to providing broad-based, high quality, affordable testing with rapid turnaround is enabling clinicians to improve patient outcomes."
The new and expanded panels are available immediately. Detailed information can be found here.
Affordable, transparent pricing
Invitae offers a transparent pricing structure independent of the number of genes required to provide an accurate diagnosis within a single clinical area. Invitae has secured contracts with the top major national payers, and for those payers and institutions in contract with Invitae, For third-party payers with whom Invitae is out-of-network and for non-contracted institutions, the price per clinical area is $1,500. In addition, for patients without third-party insurance coverage or who do not meet insurance criteria for coverage, Invitae offers its full test offerings for $475 per clinical area.
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. 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 availability of the company's new panels; that results are provided quickly and within 14 days on average; the effect of the company's expansion of its test menu and its ability to provide high quality genetic information quickly; and that such information will lead to better diagnoses, prognoses and treatments for 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 company's ability to use rapidly changing genetic data to interpret test results accurately, consistently and quickly; the company's ability to develop and commercialize new tests and expand into new markets; 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 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.
Source: Invitae Corporation
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SOURCE Invitae Corporation