Genetic testing firm 23andMe is going public via a SPAC backed by Richard Branson

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Home DNA-testing company 23andMe will go public via special purpose acquisition company (SPAC) backed by Virgin Group founder Richard Branson, the companies announced Thursday.

“We have always believed that healthcare needs to be driven by the consumer, and we have a huge opportunity to help personalize the entire experience at scale, allowing individuals to be more proactive about their health and wellness,” 23andMe CEO and co-founder Anne Wojcicki said in a statement.

The deal values the company at $3.5 billion, and current shareholders will own 81 percent of the company. Wojcicki and Branson each invested $25 million themselves as part of the $250 million fund formed to take the company public. The deal is expected to close in the…

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