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North Carolina Cancels $6.8M Deal Amid Invitae Bankruptcy

4/23/2025

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Summary

Story summary

North Carolina has pulled the plug on a $6.8 million incentives deal for Invitae Corp. after the biotech firm fell short on reporting obligations. Once poised to bring 374 jobs to Morrisville, Invitae's future now hangs in the balance following its Chapter 11 bankruptcy filing in February 2024, echoing a troubling trend in the Triangle's biotech sector.

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Story summary

North Carolina has pulled the plug on a $6.8 million incentives deal for Invitae Corp. after the biotech firm fell short on reporting obligations. Once poised to bring 374 jobs to Morrisville, Invitae's future now hangs in the balance following its Chapter 11 bankruptcy filing in February 2024, echoing a troubling trend in the Triangle's biotech sector.