Google-Backed 23andMe To Launch Its Own Drug Development Unit
23andMe is planning to enter in the field of pharmaceutical by launching its own drug development unit aimed towards treatment of genomic diseases.
23andMe is a 2006 genetic-testing startup which collects genetic data from individuals. Until now, it is estimated that the company has collected the genetic makeup of around 80,000 individuals. 23andMe is now planning to use the same data to invent their own pharmaceutical drugs.
Reportedly, within three years of establishment, 23andMe raised atleast $11 million from some of the big ventures including Google, Johnson & Johnson Development Corpration, Yuri Milner, MPM Capital, Roche Venture Fund and New Enterprise Associates.
Earlier in 2015, 23andMe announced a deal with Genetech to sell the genetic data of the customers to the pharma company. It is speculated that the decision to start its own drug unit has come up with the realisation of the fact that the company would make a lot of profit in-house if it could start its own pharmaceutical unit.
The company has already hired Richard Scheller, the lead researcher in the Genetech's team for drug discovery, reported Gizmodo. In addition, it has been reported that The Michael J. Fox Foundation has partnered with 23andMe for research on a cure for Parkinson's disease.
“Part of what we’re trying to do here is a drug discovery in a more efficient model,” said the company's CEO, Anne Wojcicki, reported Diabetes Insider.
It is amazing to see how 23andMe has innovatively tried to link the research with a need for affiliation and recognition among the 80,000 customers who provided the DNA in the form of saliva.
“Pharma companies don’t have a direct relationship with consumers, so they’re always subjects. By engaging them and giving it to them as a prize, saying, ‘You’ve powered this study and you’ve made this happen,’ we can do things in a different way,” exclaimed Wojcicki, reported Diabetes Insider.
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