DENVER--(BUSINESS WIRE)--Three Leaf Ventures, a wholly-owned subsidiary of The Broe Group established to invest in cutting-edge technology in healthcare, participated in a recently-announced $120 million round of funding for Invitae, a San Francisco-based genetic information company. Invitae’s mission is to bring genetic information into routine medical practice to improve the quality of healthcare.
Specializing in genetic diagnostics for hereditary disorders, Invitae’s goal is to aggregate the world’s genetic tests into a single service with better quality, faster turnaround time and a lower price than many single-gene diagnostic tests today. The company currently provides a single diagnostic test comprising over 200 genes for a variety of genetic disorders associated with cancer, cardiology, neurology and pediatrics. These tests can be used by a physician or a patient to target specific genetic markers in the patient’s genome that indicate the likelihood of getting a particular disease. Also, the test results are available in approximately three weeks’ time, faster than other similar testing methods.
Invitae plans to use the proceeds to accelerate the build out of its infrastructure for its genetic information business, as well as to expand its global presence.
The Broe Group participated in this investment along with other firms including Dechang Capital, Deerfield Investment, OrbiMed, Perceptive Advisors, Rock Springs Capital and Wellington Management.
About Three Leaf Ventures
Three Leaf Ventures, the technology investment arm of The Broe Group, supports growing companies in their effort to address the many issues that exist in managing health. Today, as never before, technology can be leveraged to significantly reduce the frictions present in our healthcare system. Three Leaf Ventures and The Broe Group aim to partner with entrepreneurs from vision to fruition.
About The Broe Group
Headquartered in Denver, Colo., Pat Broe founded what would become his namesake company in 1972. Today, the managed affiliates of The Broe Group employ nearly 1,000 people and own or control a multi-billion dollar portfolio of real estate, railroads, energy (oil & gas), and tech investments. Its transportation affiliate, OmniTRAX, Inc., is one of the largest privately held railroad companies in North America and its energy affiliate, Great Western Oil & Gas Company, LLC, operates a $1 billion oil and gas drilling program. More information about The Broe Group can be found at broe.com/about-the-broe-group/.