Invitae Corp: M&A transaction — Invitae sells reproductive health assets to Natera for up to $52.5M

Invitae Corp

Upfront $10M cash; up to $20M litigation credits/cash from Natera v. ArcherDx case; up to $22.5M retention milestone.
Natera hires Invitae reproductive health sales reps; transitions carrier screening and NIPT customers.
Non-compete on testing services until March 2027; transition services through July 2024.
Workforce reduction; expects $44M annualized OpEx cash savings from sale, excluding severance.
Past damages cap of $20M for infringing sales in Natera v. ArcherDx case.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Invitae Corp completed a disposition involving Natera, Inc. for $10.0 million (closed 2024-01-17).

Action: disposition
Counterparty: Natera, Inc.
Consideration: $10.0 million
Closing: 2024-01-17

Exact text from the filing

certain Invitae employees engaged in the reproductive health category. In consideration for the purchased assets, Natera (i) has made an upfront payment in cash in the amount of $10.0 million to Invitae and (ii) will make additional payments up to $42.5 million, which amount, if any, includes (a) the payment of cash and/or providing litigation-related credits in

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Invitae Corp entered into Asset Purchase Agreement with Natera, Inc. valued at upfront payment $10.0 million; additional payments up to $42.5 million (including up to $20.0 millio (effective 2024-01-17).

Action: entry
Agreement: asset purchase
Counterparty: Natera, Inc.
Value: upfront payment $10.0 million; additional payments up to $42.5 million (including up to $20.0 millio
Effective: 2024-01-17

Exact text from the filing

On January 17, 2024, Invitae Corporation (the “Company”) entered into and subsequently closed an Asset Purchase Agreement (the “Agreement”) with Natera, Inc., a Delaware corporation (“Natera”).

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Source: SEC EDGAR

accession 0001501134-24-000007

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