NeoGenomics has exercised its option to buy Inivata, a precision cancer diagnostics company that was formed to exploit Cambridge and CRUK research seven years ago.
Inivata, a UK-based precision cancer diagnostics spinout of University of Cambridge and Cancer Research UK, agreed to an acquisition by cancer diagnostics service provider NeoGenomics for $390m today.
NeoGenomics had supplied a $25m initial series C tranche in May 2020 as part of a strategic collaboration agreement that gave the corporate a fixed price option to purchase the spinout.
Founded in 2014, Inivata has created a liquid biopsy platform that can extract genomic information from a simple blood draw. The technology enables personalised cancer treatment by monitoring response to therapy and detecting relapse.
Its lead product, InVisionFirst-Lung is aimed at patients suffering from advanced non-small-cell lung carcinoma. It is commercially available internationally, including through NeoGenomics in the US.
Inivata will operate as a distinct business division within NeoGenomics, with the spinout’s chief executive Clive Morris appointed president of Inivata.
The spinout closed its aforementioned…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
