“More people took genetic ancestry tests last year than in all previous years combined,” declared Senior Editor Antonio Regalado in a story published on Feb. 18 by MIT Technology Review. He wrote that, just in 2017, the number of people who had their DNA analyzed with direct-to-consumer genetic genealogy tests more than doubled. According to industry estimates, 12 million people have now done such testing and most live in the United States. Ancestry.com leads the pack. It announced in February that it has done testing on seven million people. Notably, it did two million genetic genealogy tests just during the last four months of 2017.
MORE ON: Gene tests
According to MIT Technology Review, 23andMe is the second largest, having tested more than three million people. Then comes MyHeritage and FamilyTreeDNA. Laboratory Corporation of America does the gene sequencing for 23andMe. Quest Diagnostics does the gene sequence testing for Ancestry.com.
PAIGE.AI RAISES $25 MILLION
In New York last month, pathology company Paige.AI secured $25 million in Series A funding. It also inked a deal with Memorial Sloan Kettering Cancer Center that gives it access to its 25 million pathology slides, as well as MSK’s “intellectual property related to computational pathology.”
ROSETTA CANCELS DEAL TO ACQUIRE GENOPTIX
On Feb. 23, Rosetta Genomics disclosed that its proposed merger with Genoptix had been canceled. The financially-struggling genetic testing company said that it had failed to secure the necessary shareholder approval. On that date, Rosetta’s share price was $0.30 on the NASDAQ exchange. Because its share price has been less than NASDAQ’s minimum $1 bid price requirement since October, it has been out of compliance. The company has until May 29 to return to compliance.
- Bio-Rad Laboratories announced that John Goetz, currently Executive Vice President and COO, “will retire and resign from his position effective March 30, 2018.” Goetz began his career at Bio-Rad in 1974 and has served the company continuously since that date.
That’s all the insider intelligence for this report.
Look for the next briefing on Monday, March 26, 2018.
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…the findings of a study by researchers at Johns Hopkins University. They sent the same cancer patients’ samples to two different genetic testing labs for liquid biopsy testing using LDTs. They reported receiving back materially different test results.
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