The Stitch in Morrisville will house the Invitae facility, 374 jobs
MORRISVILLE – San Francisco-based medical genetics testing company Invitae is investing $ 114.6 million to bring its vast test manufacturing capacity to North Carolina, adding 374 life science jobs to the Triangle region of research.
The company, whose name is pronounced “in-VEE-tay,” moves into the rezoned and renovated 25-acre site of the former Morrisville Outlet Mall on Airport Boulevard, now with 245,000 square feet of offices and Class A laboratories and renamed Le Point. The company said it chose the North Carolina site as a lab and production facility on the East Coast, over the competition in Frederick, Maryland.
âBiotech companies continue to choose North Carolina as a trusted and reliable place to grow their businesses,â Governor Roy Cooper said. âFrom specialized workforce training programs to world-class research infrastructure, companies like Invitae value the benefits our state offers.â
Invitae has already provided information on medical genetics to over a million people. The company’s tests include direct-to-consumer screening of saliva samples for cancers and common cardiovascular disorders, as well as doctor-ordered tests to assess whole blood, cell-free DNA, DNA, post-mortem samples, embryo biopsies and other samples. types for diagnostic data, reproductive health, and preventive medicine.
The company’s menu of tests is one of the largest in the industry, including panel testing for thousands of genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders. and other hereditary conditions. It also has the ability to quickly create custom test panels.
âAs we continue to develop to support our rapid growth in the United States, we were eager to identify a location on the East Coast that would enhance our ability to serve our customers, improve our operational leverage and build a talented team. with links to a vibrant life sciences community. We found the perfect location in North Carolina, âsaid Ken Knight, COO of Invitae. âOur mission is to make genetic information affordable and accessible to billions of people. Our new location near Research Triangle Park will help us make this mission a reality. “
Invitae already has 38 employees in North Carolina and its agreement to hire at least 374 more by the end of 2026 requires that the current 38 positions also be maintained. The company has more than 2,100 employees worldwide and currently has laboratory production facilities in California, Colorado and Washington.
“This announcement complements and strengthens North Carolina’s position at the intersection of medical technology, precision healthcare and clinical research, which already includes global leaders such as LabCorp, GRAIL, Q2 Solutions, and more.” said Sara Imhof, Ph.D., senior director of precision health at the North Carolina Biotechnology Center. Imhof leads NCBiotech’s role in founding and coordinating the North Carolina Precision Health Collaborative, a group of precision health experts that helps drive the growth of the specialty in the state. NCBiotech also helped support the recruitment of Invitae by providing technical information to economic development partners.
Invitae, a publicly traded biotechnology company, was established as a subsidiary of Genomic Health in 2010, then separated in 2012. In 2017, Invitae acquired Good Start Genetics and CombiMatrix. Invitae has a solid history of growth through acquisition, including several notable transactions in 2020.
In March 2020, it acquired three private companies: Diploid for $ 95 million in cash and stock; YouScript for $ 79.3 million in cash and stock; and Genelex for a down payment of $ 20.7 million. Diploid is a Belgian company that has developed Moon, an artificial intelligence software capable of diagnosing genetic disorders in minutes using next-generation sequencing data and patient information. YouScript is an analytics and clinical decision support platform company. Genelex is a pharmacogenetic testing company that assesses genetic variations that can impact how an individual responds to prescription drugs.
Three months later, Invitae acquired ArcherDX in a cash and stock transaction valued at $ 1.4 billion. ArcherDX is a Colorado-based genomic analysis company with a technology testing platform for a wide range of cancers. It has developed and marketed more than 325 unique products, including research products and services used by more than 300 laboratories around the world, and has collaborated with more than 50 biopharmaceutical companies and contract research organizations, including partners such than AstraZeneca, Bristol Myers Squibb and Bayer, to accelerate drug development cost-effectively.
The 374 employees that Invitae intends to hire over the next five years at the Morrisville location will receive a minimum annual salary of $ 91,176. This compares to the 2020 Wake County average of $ 63,966. State incentives for the company include a $ 6.8 million investment grant for job development and $ 673,200 in support for workforce training at community colleges .
âNorth Carolina made a commitment many years ago to building a vibrant life sciences industry in our state,â said North Carolina Secretary of Commerce Machelle Baker Sanders. âToday we are seeing that that vision and the hard work in the beginning is paying off, as companies like Invitae bring new jobs and new investments to our state.â
In addition to technical support from NCBiotech, those partnering with the North Carolina Department of Commerce and the North Carolina Economic Development Partnership on the Invitae project include the North Carolina General Assembly, the North Carolina Community College System, Research Triangle Foundation, North Carolina Central University. , North Carolina State University, Wake Tech, Capital Area Workforce Development Board, City of Morrisville, County of Wake, Morrisville Chamber of Commerce and Wake County Economic Development and Triangle Diversity Equity and Inclusion Alliance, Raleigh programs Chamber.
Invitae’s new laboratory and office complex is owned and developed by Equator Capital Management and OCS Capital, and managed by CBRE | Raleigh.