23andMe to Develop New Ways to Treat Diseases
23andMe, the Google-backed genetic-testing startup, is planning to expand its working and will now make new medicines to cure people affected by diseases.
The company has hired a top biotechnology executive to help in the project. Richard Scheller will be heading the 23andMe’s new therapeutics group. Scheller has spent 15 years at Genentech. At Genentech, he has led research and development section, which pioneered cancer drugs Herceptin and Avastin.
It is the next big step for 23andMe, which started from selling novelty ancestry kits and then doing business with major pharmaceutical companies like Pfizer and Genentech and now, it is getting geared up to compete with big giants.
Chief Executive Officer Anne Wojcicki said that through is project they are also trying to have a drug discovery in a better model. “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”, said Wojcicki.
The company got its name for the 23 pairs of chromosomes in human cells. The company is currently recovery from a ruling of the US Food and Drug Administration that made the company unable to sell health analysis from its saliva tests, which badly affected the sales.
Since then, the company has worked hard to get back at good position. Last month, it received approvals for its first screening kit, focussing on Bloom Syndrome. Wojcicki said that with the FDA-cleared product, they need to ensure that growth keeps on taking place.
President Andy Page said that they are comfortable with the idea of multiple entities. He said that their pharmaceutical partnerships will be unaffected.