23andMe seeking more funding to expand genetics research and products


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.