SAN
FRANCISCO, May 15, 2023 /PRNewswire/ --
Invitae (NYSE: NVTA), a leading medical genetics company,
today announced that it intends to appeal the verdict delivered by
a jury at the United States
District Court for the District of Delaware. The jury found that Invitae's
products using Anchored Multiplex PCR ("AMP") chemistry infringe
certain Natera, Inc. patents. The jury awarded Natera a total of
$19.35 million, based on lost profits
and a royalty rate of 10% on certain products. Invitae will
vigorously defend itself in future proceedings regarding Natera's
request for injunctive relief.
In response to the verdict, Invitae President and CEO
Ken Knight said, "We continue to
have strong confidence in our product portfolio and our freedom to
operate based on the unique and distinguished nature of our
technology, and expect to demonstrate that in ongoing proceedings.
We believe that it is important to provide options for cancer
patients, clinicians and healthcare systems. To that end, we are
committed to bringing an effective and differentiated Personalized
Cancer Monitoring (PCM) solution to market."
About Invitae
Invitae (NYSE: NVTA)
is a leading medical genetics company trusted by millions of
patients and their providers to deliver timely genetic information
using digital technology. We aim to provide accurate and actionable
answers to strengthen medical decision-making for individuals and
their families. Invitae's genetics experts apply a
rigorous approach to data and research, serving as the foundation
of their mission to bring comprehensive genetic information into
mainstream medicine to improve healthcare for billions of
people.
To learn more, visit invitae.com and follow for updates on
Twitter, Instagram,
Facebook and LinkedIn @Invitae.
Safe Harbor Statement
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements relating to the company's plans to appeal the jury
verdict and its beliefs regarding such appeal; the company's
beliefs with respect to its product portfolio, technology and
freedom to operate; and the company's plans for future products and
services. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially,
and reported results should not be considered as an indication of
future performance. These risks and uncertainties include, but are
not limited to: the company's ability to grow its business in a
cost-efficient manner; the company's history of losses; the
company's ability to maintain important customer relationships; the
company's ability to compete; the company's failure to manage
growth effectively; the company's need to scale its infrastructure
in advance of demand for its tests and to increase demand for its
tests; risks associated with litigation; the company's ability to
use rapidly changing genetic data to interpret test results
accurately and consistently; security breaches, loss of data and
other disruptions; laws and regulations applicable to the company's
business; and the other risks set forth in the company's filings
with the Securities and Exchange Commission, including the risks
set forth in the company's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2023. These
forward-looking statements speak only as of the date hereof,
and Invitae Corporation disclaims any obligation to
update these forward-looking statements.
Invitae Contacts:
Investor Relations
Hoki
Luk
ir@invitae.com
Public Relations
Amy Hadsock
pr@invitae.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/invitae-to-appeal-trial-verdict-301825121.html
SOURCE Invitae Corporation