Information from the new technology would have been too confusing for consumers, CEO says.
Gene sequencing startup 23andme has abandoned plans to develop a next generation sequencing technology, CEO Anne Wojcicki said on Wednesday.
The company currently offers consumers information about their genetic heritage via a $200 mail-in DNA testing kit and a more limited $100 ancestry report. The company was valued at over $1 billion in a fund raising round last year, pushing it into the category of so-called unicorns.
Wojcicki had been working on developing a new technology that could extract much more information at rapid speeds and give more precise reports and advice to consumers. The problem was that 23andme is focused on giving information directly to consumers, not to their doctors, and the next gen information might have been too complex or too vague to fit that model, she said.