Invitae (NYSE:NVTA) has agreed to acquire privately held, Andreessen Horowitz-funded Jungla, a developer of a cloud-based platform that combines clinical knowledge with advances in functional genomics, biophysics, cellular engineering, machine learning, and distributed systems to help clinicians and patients understand the results of genetic and genomic tests.
Under the terms of the deal, Invitae will pay $15M in cash and $35M in common stock. It will also pay up to an additional $15M (mostly stock) upon the achievement of certain milestones.
The transaction should close in the next few days.
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