23andMe has charted a different course since running afoul of the FDA for its genetic testing products in 2013, inking deals with biopharma heavyweights to provide genomic data for drug development. Now the Google-backed company is riding the tailwinds of change, unveiling a new therapeutics group with a biotech veteran at its helm.
23andMe has brought in the former EVP of research and early development from Genentech, Richard Scheller, as CSO and head of a newly created therapeutics group. The move seems likely to be a precursor to a major cash infusion.
Since its foundation in 2006, 23andMe has gathered genetic info on more than 850,000 people by processing spit tests at $99 a pop. Now the Mountain View, CA, outfit is planning to mine that trove of data for drug targets, transforming into a biotech company and hiring a decorated ex-Genentech luminary to steer the way.
23andMe nabbed FDA clearance to market its genetic carrier test directly to consumers, a big win for the company as it continues to get back in the agency's good graces and expand the reach for its genetic tests.
23andMe scored FDA clearance to market its direct-to-consumer genetic carrier test for Bloom syndrome, a crucial win for the company as it continues to make good with the agency and expand the reach for its genetic tests.
Days after unveiling a $60 million deal with Genentech, personal genomics pioneer 23andMe struck a new database-driven collaboration with Pfizer. There is even talk of a possible resolution with the FDA in 2015.
23andMe's strategy of selling its database of genetic data to Big Pharma companies continues to bear fruit. The Google-backed company is sharing data about the DNA of 650,000 individuals with Pfizer to help that company in its R&D efforts.
Genentech has given 23andMe a major boost. The big biotech has reportedly paid $10 million upfront and agreed to $50 million in milestones to access 23andMe's database for target discovery of new drugs for Parkinson's disease.
Consumer-oriented genetic testing company 23andMe's up to $60 million partnership to provide Big Pharma company Genentech with access to information on about 3,000 Parkinson's patients illustrates the value of diagnostic companies' genetic information.
23andMe has found regulators in the United Kingdom more amenable to its personal genomics service than the U.S. FDA. The U.K. Medicines and Healthcare Products Regulatory Agency has given cautious backing to the company's spit test, which has a CE mark clearing it for sale in Europe.