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4 takeaways from 23&Me’s planned SPAC deal
Consumer DNA testing company 23andMe plans to go public through a merger with a special-purpose acquisition company started by Virgin Group. As sales of DNA testing kits wane, how will 23andMe drum up new interest for its business?
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As sales for DNA testing kits flatten, the companies that make them are faced with a predicament. Revenues are falling as the market became saturated, and more consumers began to wonder about the privacy of their data.
After a bumpy 2020, consumer DNA testing company 23andMe plans to go public through a blank-check deal. The Sunnyvale, Calif.-based business will merge with a special-purpose acquisition company started by Virgin Group in a deal that would value it at $3.5 billion.
Research and Markets: Global Clinical Laboratory Developed Tests (LDT) Services and Supplies Market Report 2020 - ResearchAndMarkets.com
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In this report, laboratory developed tests (LDTs) include all clinical tests developed by laboratories for their own use, in contrast to in vitro diagnostic (IVD) kits that are manufactured and sold by diagnostic companies for use by many different clinical labs. Clinical laboratories can develop LDTs based on any diagnostic test technology used in the clinical lab. For some technologies, such as chemistry tests or immunoassays, automated platforms with large test menus are commercially available.
As a result, in some labs, development and use of LDTs based on these technologies may be less than the number of LDTs based on newer technologies such as next generation sequencing. However, laboratories may develop tests on widely used technologies such as immunoassays to offer tests for rare diseases. Clinical lab