Genetics Startup Raises $15M to Launch Low-Cost Cancer Tests
Color Genomics, a startup stationed in Burlingame, California, invested $15 million last week to launch a new cancer risk test priced at $249, a fraction of what the usual medical screenings can cost, reports Re/code’s Kara Swisher.
Color Genomics test kits are physician-ordered. Fortune explains customers would need to either have their own doctor order the test or ask a physician working for Color Genomics to approve the request.
The kit is mailed to patients, who take a spit test. The saliva sample is then sent back and processed by the startup where they scan for 19 cancer-risk genes including BRCA1 and BRCA 2, mutations responsible for breast and ovarian cancer.
Once the results are calculated, Color Genomics’ team provides its users with free access to genetic counselors to discuss what to do next, according to Swisher.
A white paper published on Color Genomics’ website analyzes the accuracy of the company’s test, which used 490 specimens. The paper concluded that the test “yielded 100 percent accuracy of the Color breast and ovarian cancer sequencing assay based on a set of 176 SNVs, 83 indels, and 45 CNVs.”
NPR notes, though, that this assessment generated a mixed reaction. The test was well received by some researchers, while others were uncertain if these results had been studied enough to provide women with accurate information needed to form a plan of action.
However, Color Genomics Chief Executive Dr. Elad Gill told Swisher that helping people obtain better knowledge about their health is critical.
“It’s incredibly important to get this right,” he said.
