Another DNA testing company makes changes. After Ancestry.com changing hands some moths back, and then FamilyTreeDNA merging, we have another DNA testing company merging and going public.

• 3andMe is a leading consumer genetics and research company that offers a personalized health and wellness experience and has built a premier genetic database to unlock insights leading to the rapid discovery of promising new targets for drug development
• Transaction will provide the capital to fund additional investment in key growth initiatives across 23andMe’s consumer health and therapeutics businesses
• The transaction will value the outstanding shares of capital stock of 23andMe at an aggregate enterprise value of approximately $3.5 billion
• 23andMe CEO and Co-Founder Anne Wojcicki and Virgin Group’s Sir Richard Branson are each investing $25 million into the $250 million PIPE and are joined by leading institutional investors including Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital, and Foresite Capital
• The pro forma cash balance of the combined company will exceed $900 million at closing
• Current shareholders of 23andMe will own 81% of the combined company