Google Invests in Genomics Info Startup Company
News May 25, 2007
Google has invested $3.9 million this month in 23andMe, the biotech company co-founded last year by Ms. Wojcicki, a former health care industry analyst.
23andMe is a privately held company that promises to help consumers understand and browse their own genetic information.
Besides Google, the initial round of outside funding in 23andMe includes venture capital firms New Enterprise Associates and Mohr Davidow Ventures and Genentech Inc.
Anne Wojcicki, co-founder of 23andMe, was married earlier this month to Brin, Google's co-founder and president.
Brin has provided around $2.6 million in interim debt financing to 23andMe before the Google's investment in 23andMe, which was repaid as part of this financing transaction.
Genentech's Chief Executive Arthur Levinson is a member of the board of directors of Google. The company said Google's audit committee and reviewed and approved the transaction after taking advice from independent advisors.
Linda Avey, a 20-year veteran of the biotech industry, is a co-founder of 23andMe.