A month before 23andMe’s bankruptcy filing, CEO Anne Wojcicki had a fully financed proposal to take the genetic testing company private. The financing fell apart, and a series of alternative proposals by Wojcicki did not result in a deal.
By fostering collaboration and seamless data integration into healthcare systems, the industry is laying the groundwork for a future in which “personalized medicine” is so commonplace within clinical practice that we will just start calling it “medicine.”
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Months after 23andMe CEO Anne Wojcicki publicly stated she wants to take the company she co-founded private, all of the company’s independent board directors have resigned. The board letter to Wojcicki stated that its members preferred resigning over continuing to have a difference of view over the direction of the company.
Health plans should be sure the following elements are incorporated into their genetic testing benefits framework.
Balancing the promise of personalized medicine with proper payment accuracy
At Northshore–Edward Elmhurst Health, all patients are offered genetic testing as part of their primary care visit. This helps clinicians create more personalized care plans and facilitates earlier disease diagnoses, said Kristen Murtos, the health system's chief innovation and transformation officer.
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As the industry moves towards more personalized medicine, pharmacogenomics could play a key role in keeping patients healthier longer and in getting them viable treatments for their unique genetic profile.
Nest Genomics just closed a $8.5 million seed financing round. The company provides the software infrastructure needed for health systems, clinics, drugmakers and payers to launch and scale genomic programs. It also provides tools for patients to easily access their genetic information.
Drugs that work for one patient may not work for another, even if both patients have the same diagnosis. This is why each patient should be tested to select the most effective and least toxic drug regimen for that individual before initiating treatment.
Genetic tests are becoming available for a wider range of applications. During a CB Insights panel discussion, Phil Febbo of Illumina and Alicia Zhou of Color explained what they think needs to happen to make these tests accessible and affordable for more people.
Leasing allows healthcare facilities more freedom to acquire up-to-date medical equipment without the need for immediate capital investment, opening doors for smaller and newer enterprises.
Telehealth startup Genome Medical recently raised $60 million in funding led by Casdin Capital. It’s using part of the funds to acquire GeneMatters, which would add more genetic counselors to its staff.
The Illinois-based health system is teaming up with the analytics company to launch a genomics program, which will focus on predicting the risk of illness and outcomes among patients. It will also provide free genetic testing to low-income patients in an effort to increase access to genomic care.
The future of precision medicine will come only as quickly as doctors can pick out clinically useful information from the genetic data being gathered on their patients.
In the last 20 years, access to genetic testing has expanded significant as technology has advanced. But there’s still lots of work to be done to get tests covered and make them more accessible, panelists said at a virtual conference hosted by MedCity News.
On the company's LunaDNA platform, a whole genome can be exchanged for 300 company shares, while 20 days of fitness data is equal to two shares.