23andMe to Merge with Virgin Group

23andMe, Inc., a leading consumer genetics and research company, and VG Acquisition Corp., a special purpose acquisition company sponsored by Virgin Group, announced that they have entered into a definitive merger agreement. Upon completion of the transaction, estimated in the second calendar quarter of 2021, VGAC will change its New York Stock Exchange (NYSE) ticker symbol, and the combined company’s securities will trade under the ticker symbol “ME”.

23andMe’s mission is to help people access, understand, and benefit from the human genome, The company pioneered direct-to-consumer genetic testing, giving consumers unique, personalized information about the generic health risks, ancestry and traits. 23andMe is the only consumer genetic testing company with multiple FDA clearances for over-the-counter health and carrier status reports. The company is dedicated to empowering its customers with information they can use to make better decisions about their healthcare, helping them to live healthier lives.

23andMe offers its customers the option to participate in genetic research. To date, more than 80% of customers have chosen to participate. This participation, which has helped create a premier re-contactable database for genetic research, enables 23andme to analyze genotypic and phenotypic data and to discover new genetic insights. These insights unlock future opportunities across health, therapeutics and other areas.

23andMe’s dedicated therapeutics group leverages the company’s research platform to help discover novel treatments for patients with serious unmet medical needs. The company has generated a broad pipeline of more than 30 therapeutic programs, spanning oncology, respiratory, cardiovascular diseases, and more.

“As a fellow industry disruptor as well as early investor in 23andMe, we are thrilled to partner with Sir Richard Branson and VG Acquisition Corp. as we approach the next phase of our business, which will create new opportunities to revolutionize personalized healthcare and medicine,” said Anne Wojcicki, CEO and Co-Founder of 23andMe.

“Of the hundreds of companies we reviewed for our SPAC, 23andMe stands head and shoulders above the rest,” said Sir Richard Branson, Virgin Group Founder. “As an early investor, I have seen 23andMe develop into a company with enormous growth potential. Driven by Anne’s vision to empower consumers, and with our support, I’m excited to see 23andMe make a positive difference to many more people’s lives.”

Related Articles at FamilyTree.com:

23andMe Offers 23andMe+

23andMe Explains Your Privacy Protections

23andMe Launched New Family History Health Tree

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