23andMe Accelerates Its Move into Pharma

The genetic testing startup 23andMe is making progress in creating new drugs. A recent report in Business Insider notes that the company now has 13 drug candidates in its pipeline.

The drugs are designed to treat ailments ranging from skin treatments to heart disease. Becker’s Hospital Review reports that two of the medications are in the animal-testing phase. Former Genentech executive Richard Scheller is leading the program at 23andMe, and a team of 70 scientists are testing the drug compounds.

23andMe also sells genetic data to drug companies for their own research and has deals with several drug makers, including GlaxoSmithKline, Pfizer, Biogen and Genentech. GSK last summer took a $300 million stake in 23andMe and struck a drug-development deal.