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Venture Capital News: 23andMe Grabs $115M

       
MOUNTAIN VIEW, CA, 23andMe, the leading personal genetics company, on Thursday announced it has raised $115 million in a Series E financing led by Fidelity Management & Research Company.
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Among the firms joining Fidelity are new investors Casdin Capital, WuXi Healthcare Ventures and Xfund, as well as existing investors including Illumina (ILMN), New Enterprise Associates, MPM Capital, and Google Ventures. This investment will enable the company to expand its operations and maximize the potential of its direct-to-consumer product in the US and abroad. The company expects to launch a new user experience that includes carrier status reports in the US, as well as enhanced tools and functionality for customers by the end of the year. The Series E financing will also provide capital for strategic infrastructure including new laboratory space for therapeutic research, a next generation sequencing laboratory as well as other investments in long-term growth.

'23andMe pioneered the personal genetics industry. Our efforts to enable individuals to access, understand and benefit from the human genome have achieved a level of scale that will enable us to further advance genetic research and drug discovery around the world,' said Andy Page, president of 23andMe. 'This round of funding will enable us to further our vision for long term growth in our consumer and therapeutic businesses.'

The Power of One Million and Beyond

In 2015 23andMe achieved its initial goal to reach and serve one million individuals, and remains focused on expanding its customer base. Among its other recent accomplishments:

First company to receive market authorization from the US Food and Drug Administration (FDA) for a direct-to-consumer genetic test.
Expanded International product offering localized for UK, Canada and certain EU countries.
Executed several pharmaceutical and academic collaborations for disease related research, further validating the capabilities of 23andMe's database of genetic and phenotypic information and re-contactability of patient cohorts.
Established therapeutics discovery group led by Dr. Richard Scheller as chief science officer.
From expanding access to 23andMe's Personal Genome ServiceĀ®, to accelerating a powerful research platform that can enable meaningful research discoveries, this round of financing strategically positions 23andMe to continue leading the personal genetics movement and empowering individuals worldwide to take greater control of their health.

About 23andMe

23andMe, Inc. is the leading personal genetics company. Founded in 2006, the mission of the company is to help people access, understand and benefit from the human genome. 23andMe has more than one million customers worldwide, with over 80 percent consented to participate in research. 23andMe, Inc. is located in Mountain View, CA. More information is available at www.23andMe.com.
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