23andMe Sold the Rights to a Drug It Developed from Its Genetic Database
January 13, 2020
(The Verge) – The genetics testing company 23andMe licensed the rights to a drug it developed in-house to a Spanish pharmaceutical company, Bloomberg reported. This is the first time that the company has directly sold a product it created using the genetic information collected from users. 23andMe has already shared genetic data with pharmaceutical companies. GlaxoSmithKline has the exclusive rights to use its data for drug development, and purchased a $300 million stake in the company in 2018. But those drug companies use the company’s data to create their own drugs. In this case, 23andMe identified a drug candidate and conducted animal studies on that drug internally before selling it. The Spanish company, Almirall, will take the product through human trials.