23andMe raises $79M as it ramps up R&D work

Richard Scheller

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. 23andMe plans to search the genetic info it's gathered on 850,000 people for clues to new therapeutics. And it's also been doing R&D-related deals with the likes of Pfizer as well as Genentech. SEC