23andMe, the data gatherer turned drug developer, appears to be raising $150 million of new funding, according to a document filed July 2 with the Securities and Exchange Commission. The company has sold $79.1 million in the offering so far, according to the document, which shows at least part of the funding was for Series E preferred stock. A spokesman said the company does not comment on financing until the round is complete.
The Mountain View, CA-based company hired Richard Scheller, formerly Genentech’s top researcher, in March to lead the way into drug development. Xconomy Biotech Editor Alex Lash spoke with 23andMe president Andy Page after Scheller’s hire about the move, as well as the company’s other work.
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
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