When the Food and Drug Administration told personal-genetics company 23andMe in November to stop sending consumers detailed information about their DNA, some industry watchers said the move could devastate an emerging area of medicine that holds promise for better health outcomes.
But it was more of a flesh wound, said Claremont Creek Ventures Director Ted Driscoll. Though not an investor in 23andMe, he has two genetics-testing companies in his portfolio.
23andMe, a Google-backed startup that offers consumers reams of genetic information after analyzing a saliva sample for $99, may be sidelined for a while, Dr. Driscoll said. But the company will likely rebound after a few tweaks to its business model, and other DNA-testing startups will keep moving forward in the meantime.
Read the full, original story: 23andMe Flap With FDA Just a Bump in the Road, One Genetics-Testing Investor Says