Current shareholders of 23andMe will own 81% of the combined company. The merger with Branson’s SPAC allows 23andMe to go public without the uncertainty of holding an initial public offering.
The genetic testing company 23andMe announced today that it’s relaunching its direct-to-consumer health testing kits after shutting them down two years ago when the Food and Drug Administration charged the company with failing to provide evidence that their tests were “analytically or clinically validated.”
Alphabet, the parent company of Google, was one of the early investors in 23andMe. In a further connection, 23andMe CEO Anne Wojnicki was married for some years to Sergey Brin, the co-founder of Google. Although companies associated with Google are stakeholders, Google has never owned 23andMe outright.
Shares of genetic data miner 23andMe Holding (NASDAQ:ME) had surged 10.7% as of 12:45 p.m. EST Thursday in response to a mixed fiscal second-quarter 2022 earnings report featuring weaker revenue than predicted — but a much lower loss than feared.
As part of the deal with VG Acquisition, 23andMe will receive proceeds of $759 million, which includes $250 million from a range of investors including Branson, 23andMe co-founder Anne Wojcicki, funds managed by Fidelity Management & Research Co, Altimeter Capital, Casdin Capital and Foresite Capital.
23andMe’s direct-to-consumer health service is the company’s staple offering; it provides information on genetic risk factors for a handful of different diseases. … In total, its consumer-facing businesses brought in 89% of the company’s $305 million in revenue during 2020.
For less than $100, folks can discover their ancestry and uncover potentially dangerous genetic mutations. About 12 million Americans have bought these kits in recent years. But DNA testing isn’t risk-free — far from it. The kits jeopardize people’s privacy, physical health, and financial well-being.
Analysts at Citi Research say that 23andMe , the company best known for its consumer DNA tests, is actually a biotech that could become a powerful drug developer, and its stock has lots of room to grow. … The stock closed Friday at $10.96, and slipped 1.7% on Monday, to $10.77.
Wojcicki became an on-paper billionaire earlier this year, when her genetics testing company went public in a SPAC that valued 23andMe at $3.5 billion. But for the first nine years of her company’s life, Wojcicki was also married to Sergey Brin, the cofounder of Google and now the world’s sixth-wealthiest man.Dec 2, 2021
We asked 23andMe CEO Anne Wojcicki. She told us that the Chinese investors have no access to the genetic information of the company’s customers.
The simple answer is that 23andMe tests are highly accurate. But, some users still get “inaccurate” results. … If you really want to understand how accurate a 23andMe test is, you need to understand how these tests work, what they are actually measuring, and how their algorithms predict your traits.
23andMe and the Virgin Group’s merger is expected to close, opening the firm for trading, in the second quarter of 2021. It’s clear that 23andMe isn’t making its market debut as a genetics testing company. 23andMe is in the business of drugs and data now.
FDA Bans 23andme Personal Genetic Tests.
Originally Answered: How far back can 23andMe trace your lineage? Simple. 23AndMe – offers the ‘Autosomal’ DNA ancestry testing platform, which spans about 6 to 7 Generations (180 to 200 years), IF you happen to have an UN-broken Y-DNA lineage, and/or, Surname (see caveat below, as example for Y-DNA Haplogroup R1b).
We have designed our service to give customers control over how much information they share. That includes giving our customers the prerogative to use a pseudonym when connecting with other 23andMe customers, if they wish.
Access To Your Information
23andMe will not sell, lease, or rent your individual-level information to a third party for research purposes without your explicit consent. We will not share your data with any public databases.
In bioethics and law, gene theft or DNA theft is the act of acquiring the genetic material of another individual, usually from public places, without his or her permission. The DNA may be harvested from a wide variety of common objects such as discarded cigarettes, used coffee cups, and hairbrushes.
Unless we notify you otherwise, we will store your sample for a minimum of one year and a maximum of ten years, at our CLIA-certified laboratory. We may contact you in the event we need to re-analyze your sample.
On average, half-siblings share about 25 percent, whereas cousins tend to share about 12.5 percent. The results also showed matches only through Jenny’s mother’s side of the family, with no matching segments on the X chromosome.
The type of DNA testing that takes us back the farthest, according to most estimates, is mitochondrial DNA (mtDNA) testing. One reason that scientists can trace mtDNA back further than Y-DNA is mtDNA mutates more slowly than Y-DNA, and because we have copies of mtDNA in almost all of our cells.
While the company says its reports are 99% accurate, most doctors want confirmation from a second source.
117 billion USD (2021)
Ancestry.com and 23andMe — the largest companies that, combined, have DNA data of 15 million users — both share anonymized genetic data with outside researchers and companies.
Blackstone says she and others needn’t worry. “We invested in Ancestry because it is a clear leader in its industry with a digital subscription business that has continued to grow significantly,” said Matt Anderson, a spokesman for the investment firm with more than $600 billion in assets under management.
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