23andMe wants to become a drug company, has 13 drugs in its pipeline: 5 notes

Listen
Text
  • Small
  • Medium
  • Large

23andMe, known for its at-home DNA testing kits, is working on creating its own drugs for a range of ailments, including skin treatments to heart disease, according to Business Insider.

Five things to know:

1. The genetic testing startup, which began its venture into creating new drugs in 2015, now has 13 drug candidates in its pipeline. Two of those medications are in the animal testing phase.

2. A former Genentech executive Richard Scheller heads up the program at 23andMe and a team of 70 scientists are focused on testing the compounds.

3. 23andMe cofounder and CEO Anne Wojcicki said it would be a "source of pride" if drugs branded with the 23andMe label made their way into the market, according to the report. Her comments came last week during a panel at the Wall Street Journal's health technology conference

4. 23andMe also sells genetic data to drug companies for their own research. It has partnerships with several drugmakers, including GlaxoSmithKline, Pfizer, Biogen, Genentech and Alnylam. Last summer, GSK acquired a $300 million stake in the genetic testing startup and struck a drug-development deal.

5. The company has data from more than 5 million people, according to the report. They will use this data to help find new treatments.

Read the full report here.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars