Reuters: Technology News: Russian billionaire invests in U.S. genetics company 23andMe

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Russian billionaire invests in U.S. genetics company 23andMe Dec 12th 2012, 00:20 Tweet Share this Email Print Related News Amgen buys Icelandic gene hunter Decode for $415 million Mon, Dec 10 2012 Britain launches genome database to improve patient care Mon, Dec 10 2012 Exclusive: Google to replace M&A chief Fri, Dec 7 2012 Supreme Court to decide if human genes patentable Fri, Nov 30 2012 Scientists identify new risk gene for Alzheimer's Wed, Nov 14 2012 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Media » Russia » Digital Sky Technologies CEO Yuri Milner attends the eG8 forum in Paris May 25, 2011. Credit: Reuters/Gonzalo Fuentes By Sarah McBride SAN FRANCISCO | Tue Dec 11, 2012 7:20pm EST SAN FRANCISCO (Reuters) - Russian billionaire Yuri Milner, best-known for investments linking consumers to the Internet, is placing a bet on genetics. Milner, who backed companies ranging from Facebook Inc to gaming company Zynga Inc, has led a $50 million funding round into 23andMe, a Mountain View, California, company that helps people decipher their genetic makeup. His investment could shine a spotlight on biotechnology startups, which have taken a backseat in visibility to sectors like cloud computing and Internet services targeted at consumers. 23andMe, named for the 23 pairs of chromosomes that make up each person's genome, also announced a price drop for its saliva-based test, to $99 from $299. For that price, consumers learn specifics about ancestry and genetic traits, including the possible conditions and diseases to which they may have a genetic propensity. Existing investors joining the funding round include Anne Wojcicki, 23andMe's chief executive; Sergey Brin, Wojcicki's husband and co-founder of Google Inc; New Enterprise Associates; Google Ventures; and MPM Capital. The company's last funding round was about $31 million, raised two years ago. Since its founding in 2006, 23andMe has raised about $68 million. Biotechnology has fostered some hefty investment exits recently. On Monday, Amgen Inc said it would pay $415 million for Iceland-based Decode Genetics. (Editing by Matthew Lewis) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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