Invitae Files For Chapter 11 Bankruptcy Protection

(RTTNews) - Invitae has filed for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. Through this filing, the company intends to safeguard its business, customers, patients and employees while working to execute an efficient and value-maximizing sale process with the support of its senior noteholders, the medical genetics company said in a statement.

Invitae noted that it has sought court approval to fund the case using its cash on hand. The Company intends to transition into chapter 11 without disrupting operations, and is committed to serving its customers and patients and meeting go-forward commitments to employees and vendors.