Invitae has voluntarily applied for Chapter 11 protection at the U.S. Bankruptcy Court in the District of New Jersey. The firm aims to protect its operations, clientele, patients, and workforce during the execution of an efficient sale process backed by its senior note holders, according to the medical genetics firm's announcement.
Invitae has also requested legal approval to finance the case using its available cash reserves. The company plans to transition into Chapter 11 without compromising its regular operations and remains dedicated to serving its customers and patients while fulfilling its obligations to its employees and suppliers.
