Irvine-based CombiMatrix in $33 million merger deal with Bay Area genetics firm – Orange County Register – California News

Irvine-based CombiMatrix in $33 million merger deal with Bay Area genetics firm – Orange County Register – California News

Irvine-based CombiMatrix Corp. has agreed to be acquired in an all-stock merger by San Francisco-based Invitae Corp. for $33 million.

The deal between two genetic biotech firms is subject to approval by CombiMatrix’s stockholders and regulatory agencies.

CombiMatrix is a molecular diagnostics company that studies the remains of lost pregnancies, extracting DNA that is analyzed to uncover genetic abnormalities that can help explain why the women who gave the samples have had multiple miscarriages. It also does pre-implantation genetic diagnostics and screening, prenatal diagnosis and DNA-based testing for genetic abnormalities.

In 2014, the company’s chief executive, a former Navy navigator, told the Register the company’s methods would soon become the standards for analyzing pregnancy loss and prenatal testing.

Merging with Invitae, which also specializes in genetic material and hereditary disorders, should expand the scope of CombiMatrix’s reach.

“By coming together with Invitae, we believe we can synergistically combine their scale, technology and…

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