The future of consumer genomics remains murky
The biggest wheels of the consumer genomics industry succeeded in quickly selling millions of DNA tests to people around the world. But turning those one-time sales into a growing business has proved tricky, a fact underlined by a pair of moves from leaders Ancestry and 23andMe this week.
Ancestry, after multiple stabs at an IPO and a round of layoffs, sold a majority stake to the private equity firm Blackstone, STAT’s Erin Brodwin reports. Ancestry painted the deal as a means of expanding the health-focused side of its business. Days before, the company said it would start selling whole genome sequencing — a deeper DNA test than the one it previously offered — at a premium price.
Separately, 23andMe, months removed from layoffs of its own, launched a new subscription service that costs members $10 per month or $79 per year for access to what the company is billing as exclusive health reports based on the latest research.
Each is a bet that the solution to lagging demand for DNA tests is offering more and deeper information to consumers. And each could come to nothing if the yesteryear boom in consumer genetics proves to have been a fad.
Ancestry, after multiple stabs at an IPO and a round of layoffs, sold a majority stake to the private equity firm Blackstone, STAT’s Erin Brodwin reports. Ancestry painted the deal as a means of expanding the health-focused side of its business. Days before, the company said it would start selling whole genome sequencing — a deeper DNA test than the one it previously offered — at a premium price.
Separately, 23andMe, months removed from layoffs of its own, launched a new subscription service that costs members $10 per month or $79 per year for access to what the company is billing as exclusive health reports based on the latest research.
Each is a bet that the solution to lagging demand for DNA tests is offering more and deeper information to consumers. And each could come to nothing if the yesteryear boom in consumer genetics proves to have been a fad.
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