Inivata Notes Completion of Acquisition by NeoGenomics
Research Triangle Park, NC, USA and Cambridge, UK, 18 June 2021 — Inivata, a leader in liquid biopsy, today announces that NeoGenomics, Inc (NASDAQ: NEO.) has completed its acquisition of Inivata. This follows the announcement on 5 May 2021 that NeoGenomics had exercised its option to acquire the remaining Inivata equity interest for $390m after it had previously made a $25 million minority equity investment.
Inivata, with its leading liquid biopsy technology platform, will remain a separate business division alongside NeoGenomics’ growing clinical, pharma and informatics divisions. Inivata will be focused on the continued development of leading liquid biopsy tests including RaDaR™, the highly sensitive personalized assay for the detection of residual disease and recurrence (MRD).
Inivata CEO Clive Morris will become the President of Inivata and will report to Mark Mallon, CEO of NeoGenomics.
Inivata is a leader in liquid biopsy. Its InVision® platform unlocks essential genomic information from a simple blood draw to guide and personalize cancer treatment, monitor response and detect relapse. Inivata’s technology is based on pioneering research from the Cancer Research UK Cambridge Institute, University of Cambridge. Its lead product, InVisionFirst®-Lung is commercially available internationally and through NeoGenomics in the US. It offers competitive sensitivity and turnaround, providing molecular insights that enable clinicians to make more informed treatment decisions for advanced NSCLC patients.
Inivata has also launched the personalized RaDaRTM assay – allowing the highly sensitive detection of residual disease and recurrence – which has been granted Breakthrough Device Designation by the US FDA. Inivata is partnering with pharmaceutical, biotechnology companies and commercial partners in a range of early and late-stage cancer development programs. The Company has a CLIA certified, CAP accredited laboratory in Research Triangle Park, NC and R&D laboratories in Cambridge, UK.