-- Medical genetics pioneer from UCSF to join executive team to lead medical organization --
SAN FRANCISCO--(BUSINESS WIRE)--Invitae Corporation (NYSE:NVTA), a genetic information company, today announced the appointment of Robert L. Nussbaum, M.D. as Chief Medical Officer; such appointment will become effective August 1, 2015. As a board-certified internist and medical geneticist, Dr. Nussbaum has dedicated his career to improving the care of adults and children with hereditary disorders.
"We believe that the best way to bring genetics to billions of patients around the world is to work with the medical community and payors to improve care and reduce the cost of healthcare. Bob's leadership will be invaluable as we pursue our mission."
Dr. Nussbaum was most recently chief of the Division of Genomic Medicine at UCSF Health and has played leadership roles in the Cancer Genetics and Prevention Program and in the Program in Cardiovascular Genetics. As a member of the UCSF Institute for Human Genetics for the past nine years, Dr. Nussbaum will bring to Invitae extensive expertise in using genetic information to better healthcare by improving outcomes, lowering costs, and promoting education.
Dr. Nussbaum, a member of the Institute of Medicine and a fellow at the American Academy of Arts and Sciences, was co-discoverer of the first inherited form of Parkinson's disease. He has since worked to identify the genetic contributions to the disease as well as carrying out basic research into its pathogenesis. Prior to joining UCSF, Dr. Nussbaum was chief of the Genetic Disease Research Branch of the National Human Genome Research Institute, one of the National Institutes of Health.
"For decades, we have been advancing our understanding of the human genome. We are now at that exciting point of time that many of us have worked towards all these years, when the field is starting to have a real impact both on medical care and on the health of individuals and the public," said Dr. Nussbaum. "I am joining Invitae because I believe its commitment to science and quality patient care will help make genetic information more affordable and accessible in a way that benefits patients, clinicians, and the healthcare system. I am particularly excited about Invitae's commitment to empowering patients to participate in the genomics revolution by sharing their data in order to advance the quality of genetic testing and, more generally, improve medical care and disease prevention."
Dr. Nussbaum will serve as part of Invitae's executive team and lead its medical organization, overseeing medical genetics, clinical genetics, genetic counseling, clinical development, and medical affairs. Dr. Nussbaum plans to continue his clinical activities at UCSF as a volunteer physician after joining the Invitae team.
"Bob is one of the pioneers in the field of genetics. We're humbled that he has agreed to join us and expect that he will play a leading role in helping us achieve our mission," said Randy Scott, chief executive officer of Invitae. "We believe that the best way to bring genetics to billions of patients around the world is to work with the medical community and payors to improve care and reduce the cost of healthcare. Bob's leadership will be invaluable as we pursue our mission."
Dr. Nussbaum graduated from Harvard Medical School in the Harvard-MIT joint program, and completed his residency in internal medicine at Barnes-Jewish Hospital and a fellowship in medical genetics at the Baylor College of Medicine.
Invitae's (NYSE: NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. Currently focused on hereditary cancers, Invitae's goal is to aggregate most of the world's genetic tests into a single service with higher quality, faster turnaround time and lower price than many single-gene tests today. The company currently provides a single diagnostic service comprising over 200 genes for a variety of genetic disorders associated primarily with cancer, but also covering cardiology, hematology, neurology and pediatrics.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's beliefs regarding Dr. Nussbaum's expected contributions to the company and his expected start date. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Dr. Nussbaum commencing employment with the company and the timing thereof; the company's ability to develop and commercialize new tests and expand into new markets; the risk that the company may not obtain or maintain sufficient levels of reimbursement for its tests; risks associated with the company's ability to use rapidly changing genetic data to interpret test results accurately and consistently; laws and regulations applicable to the company's business, including potential regulation by the FDA; and the other risks set forth in the company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2014. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements.
Katherine Stueland, 415-254-1233