Surprise! With $60 Million Genentech Deal, 23andMe Has A Business Plan

According to sources close to the deal, 23andMe is receiving an upfront payment from Genentech of $10 million, with further milestones of as much as $50 million. The deal is the first of ten 23andMe says it has signed with large pharmaceutical and biotech companies.

It seems that sale of user data is the most lucrative business model for private genetics labs. Rather unsettling, although not unexpected.