23andMe Raises $22M

23andMe, the Mountain View, CA-based maker of genetic tests for consumers, said today it has raised more than $22 million in a Series C venture financing. The money came from a new investor, Johnson & Johnson Development Corporation, in addition to existing investors New Enterprise Associates and Google Ventures. The financing comes a couple months after 23andMe and other direct-to-consumer genetic test companies were criticized by the U.S. Government Accountability Office, which raised doubts about the usefulness and accuracy of the tests that were publicized at a Congressional  hearing. 23andMe’s chief executive, Anne Wojcicki, said in a statement that the new  financing “will help us achieve our goal of dramatically accelerating the pace of research and could ultimately make health care research and health care delivery more efficient.”

Author: Luke Timmerman

Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.