23andMe seeking more funding to expand genetics research and products

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In California, 23andMe is looking for more money to expand their genetics research and work on new products, but they aren’t ready to go public yet. They are raising nearly $200 million through Sequoia Capital, with Fidelity possibly also looking to participate in this latest funding round. 23andMe has raised over $230 million over the years with investors such as Google, Genentech, NEA and Johnson & Johnson.

While the U.S. FDA had in the past not allowed 23andMe to sell personal genomics tests, they have relaxed a bit lately and have allowed them to test for Bloom syndrome, and a new service this year that allows them to conduct a risk analysis for 10 genetically linked diseases including Alzheimer’s and Parkinson’s diseases. They are now looking at getting approval for risk analysis testing on breast cancer related genes.