SAN FRANCISCO--(BUSINESS WIRE)--Invitae Corporation (NYSE: NVTA), a genetic information company, today announced it now offers genetic testing for neuromuscular diseases, including Duchenne/Becker muscular dystrophy, dystonia, and pediatric neurodevelopmental syndromes. The company also expanded its panels for Charcot-Marie-Tooth disease and hereditary spastic paraplegia, progressive genetic diseases that affect motor and sensory pathways.
Invitae now has nearly 100 carefully curated genes featured on its neuromuscular menu, from which clinicians can easily select a pre-curated gene panel, combine multiple panels, or customize their own panels based on the clinical need of their patients.
"Genetic testing for neuromuscular disorders is important for the diagnostic care of individuals suffering from these disorders and for assessing risk in their family members,” said Elizabeth McNally, MD, PhD, Ward Professor and Director of the Center for Genetic Medicine at Northwestern University Feinberg School of Medicine. “With the newly emerging gene-specific treatments undergoing clinical trials, it is critically important to identify the specific mutations responsible for neuromuscular disease. The addition of genetic testing for neuromuscular disorders to Invitae's menu is a great step towards providing high-quality testing at low cost, consistent with the company's important long-term mission of driving genetics into mainstream medicine."
Individuals with clinical evidence of genetic neurological conditions may benefit from testing to confirm diagnosis, provide insight into prognosis, confirm inheritance patterns, inform genetic counseling, accelerate diagnosis in other family members, provide insight into clinical management strategies for optimal patient care, and, in some cases, establish eligibility for clinical trials.
“We are thrilled to see more options available for truly comprehensive genetic testing for neurological disorders such as Charcot-Marie-Tooth, which affects nearly 2.5 million people worldwide,” said Patrick Livney, CEO of the CMTA. “Having a genetic diagnosis plays an important role in the quality of life and clinical care for these patients. An expanded offering means that more accurate, definitive answers are accessible to people with Charcot-Marie-Tooth.”
Invitae’s team of medical and genetic experts combine full-gene next-generation sequencing and exonic copy number analysis with rigorous evidence-based variant classification methods to provide clearly interpreted diagnostic results in an average of three weeks.
“Our neurology panel offers a very strong option for genetic testing for Charcot-Marie-Tooth disease, hereditary spastic paraplegia, Duchenne muscular dystrophy, and dystonia at an unparalleled price. Its addition represents a major step in our path to expand these offerings to other neurological disorders in the future,” said Tom Winder, PhD, FACMG, medical geneticist at Invitae. “Our affordable pricing options combined with the scientific and clinical rigor behind our testing and reporting demonstrate Invitae’s commitment to making comprehensive neuromuscular genetic testing more affordable and accessible.”
Invitae offers a transparent pricing structure independent of the number of genes required to provide an accurate diagnosis for any specific clinical indication. For payers and institutions who are in contract with Invitae, the price per indication can be as low as $950, depending on the payer’s requirements. For third-party payers with whom Invitae is out-of-network and for non-contracted institutions, the price per indication is $1,500. In addition, for patients without third-party insurance coverage or who do not meet insurance criteria for coverage, Invitae offers its full test menu for $475 per indication for patients whose clinician has ordered the testing online and who register online and pay in advance for the testing.
Invitae Corporation's (NYSE: NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. Invitae’s goal is to aggregate most of the world’s genetic tests into a single service with higher quality, faster turnaround time, and lower price than many single-gene and panel tests today. The company currently provides a single diagnostic service comprising hundreds of genes for a variety of genetic disorders associated with oncology, cardiology, neurology, pediatrics and other rare disease areas.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the benefits of genetic testing and the company’s tests; the company’s belief that the pricing of its neurological panel is unparalleled and represents a major step toward expanding its offerings for other neurological disorders in the future; the importance of specific mutations; the company’s expectations regarding the release of additional tests and the timing thereof; the benefits of the company’s pricing and billing policies; and the ability of the company to realize its goals, including making genetic testing more affordable and accessible to billions of people. 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 history of losses; the company’s ability to generate substantial demand for its tests; the company’s ability to develop and commercialize new tests and expand into new markets; the risk that the company may not obtain or maintain sufficient levels of reimbursement for its tests; risks associated with the company’s ability to use rapidly changing genetic data to interpret test results accurately and consistently; the company’s ability to compete; laws and regulations applicable to the company’s business, including potential regulation by the Food and Drug Administration; 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 June 30, 2015. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements.