It was a triumphant Anne Wojcicki who took the stage at this year's TEDMED conference in Palm Springs, CA. She's had a great year--gaining the first FDA clearance for a direct-to-consumer genetic test earlier this year and recently relaunching a broad consumer test that includes more than 60 points of genetic information including disease carrier status, wellness and disease trait.
Having guided 23andMe through a tricky period, Anne Wojcicki is now plotting what it will take to turn the company into a real success story. And while some CEOs would be happy with a big-ticket buyout, Wojcicki has a larger ambition for 23andMe: developing a cure for a disease.
In a sure sign of recovery from a famous setback dealt by the FDA, Anne Wojcicki promised she will not sell her once again trendy diagnostics company 23andMe.
The FDA is cracking down on direct-to-consumer testing companies including DNA4Life and Interleukin Genetics for selling their tests without proper approval, a few weeks after the agency cleared the way for 23andMe to proceed with its DTC genetic reporting service.
Things looked pretty bleak for 23andMe two years ago after the FDA ordered the company to stop selling its genetic spit tests, saying that it didn't have sufficient data to prove the product's accuracy. But the company has been working hard to cut its losses and rebuild, and now it's taking another step in that direction as it launches a new FDA-approved product that provides customers with a suite of genetic reports.
J. Craig Venter has unveiled the scope of the Health Nucleus testing service being offered by Human Longevity Inc. For $50,000, HLI will perform a battery of sequencing, imaging and laboratory tests to build a picture of the health of an individual--while adding a wealth of information to its burgeoning database.
23andMe has bounced back from a difficult couple of years with a $115 million fundraising round that values the company at $1.1 billion. The cash will enable 23andMe to set up new lab space to fire up its nascent in-house drug discovery program and invest in a next-generation sequencing facility.
23andMe reeled in $115 million in Series E financing to support new business initiatives and R&D, giving the company a boost as it forges ahead with its plans to restore growth.
23andMe raked in $79 million of a $150 million round, according to documents filed with the SEC, giving the company a boost as it dials up its R&D efforts.
23andMe has filed documents with the SEC stating that it has raised $79 million of a $150 million round. The fundraising comes soon after the company revealed plans to dive into the drug development world, recruiting Genentech's Richard Scheller as its chief scientific officer.