These include direct-to-consumer as well as physician-ordered tests.
Here we will present you with an exhaustive list of genetic testing companies and each of them has to offer, both for ancestry and health. Before choosing a DNA test, it’s important to understand what you hope to learn from it so you can know if the company will fulfill your needs. Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.Genetic testing companies can offer you information about health or ancestry. I think what they wanted most was to enlist the passion, insight and support of Kari Stefansson in extending their place in transforming medicine.Īrch and Polaris will have re-owned deCODE for just under two years, generating more than a 6x cash multiple and more than a 106% IRR. Amgen bought deCODE for its powerhouse research engine-including its talented genomics scientists, tools, and data. And the pace of discovery is accelerating.Ĭlearly Amgen wanted deCODE for more than its patents, genetic testing business, or drug development projects-although there is plenty of value there.
The third discovered a mutation that protects against Alzheimer’s and the likely mechanisms for that protection. The second identified a gene mutation that substantially increases the risk of developing Alzheimer’s disease. The first linked the age of the father to the incidence of diseases such as autism and schizophrenia. In just 2012 alone, deCODE published three seminal manuscripts that have received global attention. Polaris co-founder Terry McGuire, who led both the initial venture round and latter acquisition out of bankruptcy, writes: They also would invest an undisclosed amount to help rebuild the company, culminating in today’s agreement with Amgen. The winning bidders were Arch and Polaris, which paid a combined $14 million. By late 2009, deCODE decided to declare bankruptcy and auction off its core assets. It also wasn’t helped by an Icelandic economic collapse, nor broader macro economic troubles that damaged the pharmaceutical sector. Unfortunately for deCODE, however, the company’s promise and consistent research achievements were not matched by commercial success. For Polaris, that meant a 7.2x cash multiple and a 69% internal rate of return (IRR). DeCODE would eventually raise $173 million in a 2000 IPO, with all of its venture capitalists eventually cashing out.
It would go on to raise venture capital funding from eight different venture capital firms, including Arch Venture Partners and Polaris Venture Partners. DeCODE was originally founded in 1996, with plans to map the genome of Iceland’s small, and relatively homogeneous population.
0 kommentar(er)
