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Invitae Will Acquire Singular Bio For $55M

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Invitae (NYSE: NVTA) will acquire Singular Bio for $55 million in a mostly stock deal.

Invitae is medical genetics company and Singular Bio is a privately held company developing single molecule detection technology that allows expanded use of high-quality, cell-free, nucleic acid analysis, initially for application in non-invasive prenatal screening (NIPS).

"Singular Bio is building an approach to non-invasive prenatal screening with the potential to achieve the cost savings necessary to provide more women with genetic information to support a healthy pregnancy," said Invitae CEO Sean George. "We believe this approach could eventually be applied to other areas of genetic testing. The addition of Singular Bio's technology will further strengthen our ability to bring genetic information into mainstream medical care."

On Monday, Invitae shares were trading up 4.6% at around $20.

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