Invitae Publishes its Environmental, Social and Governance (ESG) Report
PR Newswire
4 min read
– Report details the company's commitment to improving healthcare through the power of genetic information and discloses Environmental, Social and Governance initiatives for fiscal year 2023 –
SAN FRANCISCO, April 22, 2024 /PRNewswire/ -- Invitae (OTC: NVTA), a leading medical genetics company, today published its 2024 Environmental, Social and Governance (ESG) Report. This report provides a holistic view of the company's approach to ESG and its performance and progress through measurable data and metrics during the 2023 fiscal year.
Invitae's (NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. www.invitae.com (PRNewsFoto/Invitae Corporation)
"At Invitae, sustainability isn't just a function; it's woven into the very fabric of our DNA. We've embraced sustainability and ESG as catalysts for transformative change," said Erik Kaiser, chief sustainability officer of Invitae. "Throughout this journey, our unwavering commitment to our patients and customers remains paramount, ensuring that our actions positively impact healthcare, the environment and society."
The report provides an in-depth review of the progress made in the past year through company-wide ESG initiatives. The company's notable achievements include:
Expanding patient access and partnerships: We concentrated our efforts on expanded access to genetic testing, resulting in policies, programs, and guidelines that now qualify more patients and their families to receive testing. Since inception, we have proudly served over 4.6+ million patients and in 2023, expanded our partnerships in rare diseases and data to advance drug discovery.
Advancing genetic insights: We strengthened our industry-leading variant classification, Invitae Generation™ capabilities through cutting-edge technologies such as machine learning and functional modeling. Since 2020, we've seen a 40% reduction in the rates of uncertainty with Invitae Generation™ technology. These tools empower us to continue to improve the accuracy of our genetic insights.
Standard of quality: We obtained market authorization from the United States (US) Food and Drug Administration (FDA) for one of our hereditary germline cancer panels, a testament to our stringent standards and product quality. Our hereditary cancer panels give patients and their families vital information for informed healthcare decisions.
Environmental sustainability: We made progress managing scope 1 and 2 greenhouse gas emissions, and we assessed the relevance of the different scope 3 categories in our value chain. We also adopted a board-level Environmental Policy. Environmental sustainability is at the core of our ESG journey.
"I extend my heartfelt gratitude to our exceptional team members for their dedication, hard work and focus on our patients and on our greater mission—bringing genetic information into mainstream medicine and creating a healthier future for all," said Ken Knight, president and chief executive officer of Invitae. "I hope you share in my excitement for better healthcare through genetic testing, for a brighter future for our planet and for the well-being of its people. Together, we will continue to profoundly impact healthcare and the world around us."
Invitae's full 2024 ESG Report can be downloaded here.
About Invitae Invitae (OTC: NVTA) is a leading medical genetics company trusted by millions of patients and their providers to deliver timely genetic information using digital technology. We aim to provide accurate and actionable answers to strengthen medical decision-making for individuals and their families. Invitae's genetics experts apply a rigorous approach to data and research, serving as the foundation of their mission to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.
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 ESG and sustainability plans and initiatives and the expected impact thereof. 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: risks and uncertainties regarding the company's ability to successfully consummate and complete a plan of reorganization under Chapter 11; the company's ability to continue operating in the ordinary course while the Chapter 11 proceeding is pending; potential adverse effects of the Chapter 11 proceeding on the company's business, financial condition, liquidity and results of operations; the company's ability to use rapidly changing genetic data to interpret test results accurately and consistently; risks associated with litigation; security breaches, loss of data and other disruptions; laws and regulations applicable to the company's business; 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements.
