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The startup wants to serve the 50 percent or so of genetic disease patients who haven't obtained a molecular diagnosis despite extensive testing.
The report also identified opportunities to improve adoption through dissemination of evidence supporting the clinical and economic utilization of testing.
TargetCancer is activating two enrollment sites and setting up a remote consenting process so patients with rare cancers can be seen at local community hospitals.
The software generates reports for pharmacogenomics, rare diseases, predispositions to common diseases, and nutrigenomics.
The offering consists of 2 million common shares offered by the company and 1.5 million common shares offered by selling shareholders at a price of $14 per share.
The Rostock, Germany-based company reported €12.1 million ($13.6 million) in revenues, missing the average analyst estimate of $14.7 million.
The company, headquartered in Rostock, Germany, reported €15.2 million ($16.4 million) in revenues for Q4, with growth driven by its pharmaceutical business.
Invitae will provide free genetic testing on a 53-gene panel and counseling to patients suspected of having an LSD to facilitate earlier diagnosis and appropriate treatment.
The insurer will cover testing at the Rady Children's Institute for Genomic Medicine for children in intensive care with unexplained medical conditions.
Public Health England will use the company's Victor EnLite instrument and EnLite Neonatal TREC kit at three of six sites to evaluate screening newborns for "Bubble Boy" disease.