Invitae (NVTA) has released an update to notify the public and investors about an entry into a material definitive agreement.
Invitae Corporation completed an asset sale to Natera, Inc., involving customer lists and specific contracts associated with reproductive health services, including carrier screening and prenatal testing. Invitae received $10 million upfront with potential additional payments totaling $42.5 million, contingent on case resolutions and performance milestones. The agreement also includes a non-compete clause through March 2027, with certain exceptions, and requires Invitae to assist Natera in transitioning services and obtaining necessary consents. Transition services will be provided by Invitae to Natera until mid-July 2024.
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