Genetics Co. Inks $1.4B Deal With Cooley-Led Cancer Tech Biz
Law360 (June 22, 2020, 5:50 PM EDT) — Invitae, a genetics company that tests for rare and genetic diseases, said Monday that it has inked a $1.4 billion deal to merge with cancer-focused genetic testing technology provider ArcherDX, which is being advised by Cooley LLP, to strengthen the enterprise’s cancer testing services.
The announcement comes just after Boulder, Colorado-based ArcherDX Inc. filed a preliminary initial public offering prospectus with the U.S. Securities and Exchange Commission at the beginning of June.
Leaving the offering on file, ArcherDX will receive 30 million shares of Invitae Corp.’s common stock and $325 million in cash up front, according to a company statement. ArcherDX can…