23andMe has struggled with its dual business model of selling direct-to-consumer DNA testing kits and using that data to develop drugs. In 2021, at a valuation of $3.5 billion, the company went public. Currently, its market cap is $111 million.
The company said it’s exploring all strategic options for its therapeutic programs, including licensing agreements, asset sales or other deals. 23andMe’s therapeutic programs include cancer drugs 23ME-00610 and 23ME-01473, as well as preclinical immunology and inflammation programs.
read full article at SOURCE : https://endpts.com/23andme-to-shut-down-its-therapeutics-division/ by Shelby Livingston Nov 11, 2024
