Google invests more money in genetic testing firm co-founded by Brin’s spouse

google_logoGoogle tossed another $2.6 million into its investment in 23andMe, the privately held personal genetic testing  company co-founded by Anne Wojcicki, who is married to Google founder Sergey Brin. The investment was part of a second round of funding in the company’s Series B preferred shares that included New Enterprise Associates, which negotiated the terms of the investment, according to a filing Google made today with the SEC.

Brin, who invested $10 million in a convertible debt financing for the company had his investment converted into the same Series B preferred stock acquired by Google in this round.

Google invested in 23andMe’s first round of funding in May 2007 and purchased additional Series A preferred stock in November of the same year for about $500,000.

23andMe supplies technologies and Web-based interactive tools to help individuals discover information about their own genetic make-up.

It was among 13 companies that received inquiries  from California health regulators last year over complaints by consumers about the accuracy and cost of such personal genetic tests.

Google has also become 23andMe’s landlord, according to a filing Google made Thursday, in a deal that was reportedly reviewed by an independent real estate appraiser.

The audit committee of Google’s board of directors was advised by independent counsel “as part of its decision-making process” about the deals.

 

Tags: , , , , ,

 

Share this Post



 
 
 
 
 
css.php