SUNNYVALE, Calif. and SAN DIEGO - 23andMe Holding Co. (NASDAQ:ME), known for its genetic testing and analysis, has entered into a strategic research collaboration with Mirador Therapeutics, a company specializing in precision medicine for immunology and inflammation-related diseases. The partnership, announced today, will see Mirador utilizing 23andMe's vast genetic and phenotypic database to advance its drug development efforts.
This collaboration aims to leverage 23andMe's database, which is the largest crowdsourced platform for genetic research, to enable Mirador to validate targets for precision medicine. Insights from this database have previously led to the development of drug discovery programs and clinical stage assets in immuno-oncology, as well as over 300 scientific publications.
Mirador Therapeutics plans to integrate the genetic insights with its Mirador360™ development engine, which contains one of the most comprehensive collections of immune-mediated disease data, including over two million human molecular profiles. The collaboration is expected to accelerate the development of new therapies for patients with chronic immune-mediated inflammatory and fibrotic diseases.
Mark C. McKenna, Chairman and CEO of Mirador, expressed enthusiasm about the partnership's potential to transform the treatment landscape for I&I diseases. Anne Wojcicki, CEO and Co-Founder of 23andMe, also highlighted the collaboration's promise in developing new drugs and helping millions of patients in need of treatment options.
23andMe emphasizes the privacy of its research participants, noting that customers have control over their data and can opt in or out of the research program at any time. The data used for research is de-identified, with personal identifiers stored separately from genetic information.
The press release also includes forward-looking statements about the collaboration's potential outcomes, cautioning that these are based on current expectations and subject to risks and uncertainties.
This news is based on a press release statement from 23andMe.
In other recent news, 23andMe Holding Co. announced significant restructuring plans during their Fiscal Year 2025 Second Quarter Earnings Call. The company's CEO, Anne Wojcicki, revealed a 40% workforce reduction and the discontinuation of all therapeutic programs, as part of a strategic shift to prioritize subscription growth and database opportunities for clinical trials. Despite a 12% year-over-year decline in revenue to $44 million, largely due to decreased genetic kit and telehealth service sales, the company reported an increase in gross profit and an improved net loss. The company also executed a reverse stock split to regain NASDAQ compliance. These recent developments reflect 23andMe's focus on enhancing long-term sustainability and financial health, despite facing challenges in revenue and cash reserves. The restructuring is expected to yield significant cost savings and the company plans to deliver value through subscriptions and pharmaceutical partnerships.
InvestingPro Insights
As 23andMe embarks on this strategic research collaboration with Mirador Therapeutics, investors should be aware of the company's current financial position and market performance. According to InvestingPro data, 23andMe's market capitalization stands at $93.76 million USD, reflecting its position in the genetic testing and analysis market.
The company's revenue for the last twelve months as of Q2 2025 was $193.26 million USD, with a concerning revenue growth decline of -28.47% over the same period. This negative growth trend is further emphasized by an InvestingPro Tip indicating that the company is "quickly burning through cash." This could be a critical factor to watch as 23andMe invests in research collaborations like the one with Mirador Therapeutics.
Another InvestingPro Tip notes that 23andMe "holds more cash than debt on its balance sheet," which may provide some financial flexibility as it pursues this new partnership. However, investors should also consider that the stock "has taken a big hit over the last week," with a 1-week price total return of -19.29% as of the data's timestamp.
For those interested in a deeper analysis, InvestingPro offers 12 additional tips for 23andMe, providing a more comprehensive view of the company's financial health and market position. These insights could be particularly valuable as investors assess the potential impact of the Mirador collaboration on 23andMe's future performance.
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