Invitae (NVTA +1.1%) announces the acquisition of Singular Bio, Inc., for ~$55M, subject to certain adjustments, mostly in stock with the balance in cash.
Singular Bio’s is a privately held company developing single molecule detection technology that enables lower costs and expanded use of high-quality, cell-free, nucleic acid analysis, initially for application in non-invasive prenatal screening.
Invitae expects the transaction will be cash neutral at close; and is expected to close in the coming weeks, subject to customary closing conditions.
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