23andMe abandoned the next-generation sequencing technology (NGS) research and development, things are somewhat unexpected, and suddenly poured a cold water on the hot genetic testing technology. However, if you think about it carefully, but it is reasonable, not too mature technology, high sequencing price and low willingness and demand of consumers, people have already doubted the future of NGS. This can also be seen from the reaction of foreign media to this matter, and did not cause the uproar as the 2013 FDA requested 23andMe to suspend the provision of health genetic testing services for new users!
According to foreign media such as Techcrunch, 23andMe has stopped the NGS project laboratory, and at least five laboratory workers have been fired, including Dr. Jill Hagenkord, the chief medical officer responsible for the project for two years. Founder Anne Wojcicki publicly stated that this has nothing to do with the slowdown in sequencing demand, funding and regulatory issues. "Our funds are abundant, but the problem is a bit complicated now." So, why 23andMe will give up NGS now, what happened in the genetic testing market? The author will do some analysis for you and discuss the future with you.
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Core: Selling basic sequencing services for individual consumers
In the field of genetic testing, 23andMe has a long-standing reputation. From founder Anne Wojcicki to investors Google, Johnson & Johnson and NIH, they all have their own aura. In 2008, they were awarded the Best Invention Award by Time magazine. . From October 2007, it received a $8.95 million Series A financing from companies such as Google, and by the NIH's $1.7 million in financing in October this year. As of now, after 7 rounds of financing, 23andMe total financing amounted to more than $240 million.
So popular with the capital market, what is the core business of 23andMe? That is, based on SNP (DNA sequence polymorphism caused by variation of single nucleotide at the genomic level), 650,000 sites in the human genome are detected to form large-scale, voluntary population genetic sampling and Gene component type work. In the field of genetic testing, this is a relatively basic service.
Instead of genome-wide sequencing, 23andMe uses the Illumina-based version of the HumanOmniExpress-24 gene chip screening technology. This not only reduces the cost of equipment and R&D, but also reduces medical risks. Accuracy, the gene detection is as high as 99.7%, but the cost is lower than the second generation sequencing. SNP classification detection technology has the advantages of high accuracy, strong flexibility, large throughput, short detection period and low cost; the advantage of data analysis is fast, accurate and standardized.
What is the price of sequencing? In 2003, the cost of the first human genome test was as high as $2.7 billion, while the initial price of 23andMe was $999 and all the way down. After getting a total of more than $60 million in Series B and Series C financing, the price was reduced. To $299, in 2013, the FDA stopped the 23andMe to provide health guidance services to users based on genetic information because it has not yet established relevant standards. The cost of 23andMe is reduced to freezing point, as long as $99. Now, usually only 149 or 199 US dollars is needed, which is obvious compared to the cost of 1000 US dollars that NGS has been at a high level for three years.
As of now, 23andMe may have accumulated more than 1.5 million users, and it can be said that it has established the world's largest database of genes and phenotypes. At this time, there are two ways in front of 23andMe: one is to continuously improve the new technology of gene sequencing , and create a flourishing world; the other is to continue to sell its basic gene sequencing services to individual consumers. Obviously, 23andMe chose the latter.
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