- Patrick Chung
Something to Salivate Over
Originally published at NEA.com
About five years ago, I was paid the most arresting visit. A first-time entrepreneur named Anne Wojcicki came to NEA with an amazing idea, on a single sheet of paper: she wanted to make gene sequencing technology accessible to regular consumers for the first time ever, enabling all of us to learn amazing things about ourselves; to potentially live healthier, longer lives; and to completely revolutionize medical research.
And all she needed was a little spit.
Today the personal genomics company Anne founded — 23andMe, named for the 23 pairs of chromosomes that make up each person’s genome—is reducing its price to $99, a full order of magnitude from its first price point ($999) in 2007. The company is doing this to genotype one million individuals, and this ambitious goal is being fueled by over $50m in new capital led by DST’s Yuri Milner, along with NEA and existing investors Google and MPM Capital.