23andMe Announces Additional Investment in Series C Financing; Dr. Ashley Ledbetter Dombkowski of MPM Capital Joins 23andMe’s Board of Directors
January 7, 2011
Following this year’s landmark FDA clearance for genetic health reports, company will use funds to fuel customer growth and further invest in its research platform
Mountain View, Calif. – January 7, 2011 – 23andMe, a leading personal genomics company, today announced the addition of approximately $9 million to its Series C Financing to bring the total raised in the round to approximately $31 million. 23andMe first announced its Series C Financing in November 2010. With this closing, MPM Capital joins Johnson & Johnson Development Corporation as new investors and MPM Capital Managing Director Ashley Ledbetter Dombkowski, PhD is joining 23andMe’s Board of Directors. Dombkowski is a member of MPM’s Investment Committee and has contributed to the strategic advancement of innovative healthcare companies at all stages of development. Recently named one of the Most Influential Women of 2010 by the San Jose/Silicon Valley Business Journal, Dombkowski brings more than 15 years of experience in managing investments in the biotech, medical device and pharmaceutical industries. “With MPM Capital joining Johnson & Johnson Development Corporation, Roche Venture Fund, Google Ventures and New Enterprise Associates as investors, 23andMe has aligned a powerful constellation of expertise in strategic healthcare, healthcare venture funding, consumer markets, information technology, and business strategy that will enable us to bring the vision of personalized medicine to consumers faster,” said 23andMe Co-founder and CEO Anne Wojcicki. “Dr. Dombkowski’s experience and deep connections in the healthcare industry make her a valuable addition to our Board.” “By combining state-of-the-art genotyping technology with sophisticated information technology tools, 23andMe is helping to usher in the age of personalized medicine in a way that can truly empower individuals while in parallel fueling ground breaking research,” said Dombkowski. “It’s quite extraordinary how much capacity this platform has to power innovative breakthroughs in partnership with clinicians, researchers and patients. As a scientist, investor and individual, I am delighted to be working with the 23andMe team.” This press release does not constitute or form part of, and should not be construed as an offer or an invitation to sell or issue, or the solicitation of any offer to buy or subscribe for, any securities.
About MPM Capital
MPM Capital is one of the world’s largest life science-dedicated venture investors. With committed capital under management in excess of $2.5 billion, MPM Capital is uniquely structured to invest globally in healthcare innovation. More information is available at www.mpmcapital.com.
23andMe, Inc., headquartered in Sunnyvale, CA, is a leading consumer genetics and research company. Founded in 2006, the company’s mission is to help people access, understand, and benefit from the human genome. 23andMe has pioneered direct access to genetic information as the only company with multiple FDA clearances for genetic health reports. The company has created the world’s largest crowdsourced platform for genetic research, with 80% of its customers electing to participate. The 23andMe research platform has generated more than 180 publications on the genetic underpinnings of a wide range of diseases. The platform also powers the 23andMe Therapeutics group, currently pursuing drug discovery programs rooted in human genetics across a spectrum of disease areas, including oncology, respiratory, and cardiovascular diseases, in addition to other therapeutic areas. More information is available at www.23andMe.com.