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Natera is a leader in cell-free DNA and precision medicine, and a company that is making its presence known in the biotech space. The Austin-based company is helping shape healthcare with genetic testing solutions spanning oncology, women’s health, and organ health.
The company’s core mission is to embed personalized genetic testing and diagnostics into standards of care, moving precision medicine from the theoretical to the actionable. Its clinical tests aim to inform earlier, help create targeted interventions, and give patients longer and healthier lives. Natera has over three hundred peer-reviewed publications supporting its technology across cancer recurrence detection, prenatal genetic disorders, and transplant monitoring.
The market appears to be agreeing with Natera’s mission. In Q2 2025, the company generated $546.6 million, up an impressive 32.2 percent from the previous year. Key product lines, including the market-leading Signatera test for oncology, drove these results, with oncology tests alone up 50.6 percent year-over-year. Gross margin improved to 63.4 percent as the company processed over 853,000 tests in the quarter, citing both growing adoption and improved operational efficiency.
Natera has illustrated a shift toward sustainable profitability driven by scale and product mix. Its 2025 revenue outlook was raised by $80 million, projecting $2.02–$210 billion for the year. The company achieved a positive cash flow of $24.3 million for the second quarter.
More detailed examination of the company’s exceptional market performance reveals a robust pipeline of research milestones. The company is set to unveil key findings at the European Society for Medical Oncology (ESMO), including pivotal results from the phase 3 IMvigor011 trial and the Checkmate 274 study in muscle-invasive bladder cancer. The data is anticipated to further validate Signatera’s clinical impact in oncology, where the test has already established itself as a leader in minimal residual disease detection and recurrence monitoring.
Natera’s women’s health segment is also surging with the launch and successful clinical trial outcomes of its “Fetal Focus” non-invasive prenatal test, purpose-built to detect inherited genetic conditions. The EXPAND trial encompassed some 1,600 participants and will provide one of the most extensive analyses to date in prenatal genetic screening with results expected toward the end of the year.
The breadth of Natera’s research extends to transplantation, with the Prospera test platform earning new clinical support across kidney, heart, and lung transplants. At the 2025 World Transplant Congress, Natera showcased data from high-impact multicenter trials, validating Prospera’s effectiveness in predicting long-term organ rejection outcomes and monitoring post-treatment health status.
Natera’s strategic push isn’t confined to the clinic. In August 2025, the company announced the rollout of proprietary AI foundation models designed to accelerate diagnostic and therapeutic innovation. These new digital tools, including a virtual patient simulator, are expected to streamline test development and interpretation.
Natera breakthroughs are heavily supported by IP professionals like VP and chief intellectual property counsel Nishita Doshi. The attorney has ensured Natera’s favorable outcomes in defense, such as invalidating all three CareDx patents in a case affirmed by the Federal Circuit and greatly reducing exposure in a major Raven suit, one that resulted in an increase in the company’s market cap by $700 million in a single day. The attorney’s uncommon blend of expertise in advanced science and IP litigation continues to position Natera at the forefront of multiple biopharma markets.
The VP gained extensive experience at Invitrogen and Thermo Fisher Scientific, managing IP for divisions ranging from next-generation sequencing to diagnostics. At Natera, she oversees all facets of the IPR portfolio, including a busy patent litigation docket. Doshi’s team successfully won a permanent injunction against Invitae and ArcherDx, a high-profile “Patent Impact Case of the Year” recognized at the LMG Life Sciences Awards in 2023. Doshi’s litigation leadership also delivered a preliminary injunction against NeoGenomics.
With so much competition in the biopharma space, Natera still has its work cut out for itself. Familiar industry headwinds include sustaining profitability amid heavy research investment, navigating complex regulatory requirements, and managing legal exposures intrinsic to biotech innovation. Recent increases in operating expenses, partly due to compensation and legal accruals, have driven ongoing net losses even as positive cash flow and capital reserves provide a financial cushion.
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Since its inception, Quinn Emanuel attorneys have been at the forefront of biotechnology handling cases covering virtually every aspect of the field. Our attorneys have handled district court litigations, appeals, ITC, and patent office proceedings covering biological drugs, diagnostic assays and tools, PCR, sequencing and single cell analysis, protein standards, genetic manipulation as well as most of the picks and shovels used in the industry. Because of the wins for our clients, our attorneys have received many industry awards. Many of the attorneys in the group have advanced technical degrees including Ph.D.s in relevant biotechnology areas, and our vast experience in successfully enforcing and defending suits in biotechnology allows us to create efficient, winning strategies for large and small clients alike.
Life sciences companies turn to WilmerHale to resolve their most complex intellectual property issues, including bet-the-company patent, trade secrets, and licensing disputes, Hatch-Waxman litigation, and cases under the BPCIA. We draw upon deep experience gained by handling thousands of IP matters across the pharmaceutical, biologic, genomic, biotechnology, diagnostics, and medical device sectors. Life sciences companies continually strive to stay competitive by developing innovative offerings, and it is our privilege and passion to bring to bear our experience in IP litigation, counseling and prosecution to help these clients protect their hard-earned achievements at each stage of growth.
