Photographer: Kiyoshi Ota / Bloomberg
Photographer: Kiyoshi Ota / Bloomberg
The genetic testing company Invitae Corp. plans to raise about $ 1.2 billion from investors included SoftBank Group Corp., with an announcement scheduled for Monday, Dow Jones reported.
The investment will be made in the form of convertible debt and aims to help guests expand the use of their platform, according to the publication. Shares of the San Francisco-based company have tripled in the past twelve months and closed at $ 39.19 in U.S. trade on Thursday, raising its market valuation to $ 7.7 billion.
SoftBank founder Masayoshi Son has been expanding its investments in listed companies in recent months, including Amazon.com Inc., Facebook Inc. i Alphabet Inc. The Japanese billionaire had previously set up a $ 100,000 million Vision Fund to invest in private companies, betting on companies like Didi Chuxing and DoorDash Inc.
Bloomberg News reported for the first time in February that SoftBank planned to expand its investments in biotechnology and healthcare. As of December 31, there were public funds from the company Pacific Biosciences of California Inc., 4D Molecular Therapeutics Inc. i AbCellera Biologics Inc.