Color Genomics to Offer Patient Families Discounted Testing
Burlingame, CA – Color Genomics, a genetic testing company, has announced it will offer its high-quality, physician-ordered test for hereditary cancers at a reduced rate to families of those diagnosed with inheritable malignant disease. As part of its Color Family Testing Program, the company will make its ‘Color Test’ available to parents, siblings, and adult children of patients with hereditary cancer mutations for $50 instead of $249. The program is supported by the BRCA Foundation as well as private donors.
The company has also announced recently that it has successfully raised $45 million in a Series B financing round, bringing its total funding to date to $60 million. The financing round was led by General Catalyst, with participation from the singer Bono and from existing investors, including 8VC, Khosla Ventures, Emerson Collective, and BlackRock co-founder and COO Susan L. Wagner. Wagner, as well as Hemant Taneja, managing director at General Catalyst, have joined Color’s board of directors in connection with the investment
Color Genomics, which is based in Burlingame, California, plans to use the proceeds to further expand its services. “The new funding will go toward bringing even more people access to potentially life-saving genetic information and building the open databases necessary to further global research and development around major diseases,” Color Genomics co-founder and CEO Elad Gil said in a statement.
Launched in 2015, Color Genomics offers genetic testing for hereditary cancer in more than 150 countries. Its Color Test analyzes 30 genes associated with inherited breast, colorectal, melanoma, ovarian, pancreatic, prostate, stomach, and uterine cancer. The test is also being used as part of the Women Informed to Screen Depending on Measures of Risk (WISDOM) study, led by the University of California, San Francisco, which plans to enroll 100,000 women between 40 and 80 years old.
More on Color Genomics: https://getcolor.com
More on WISDOM: https://www.ucsf.edu/news/2015/03/124241/ucsf-gets-major-contract-study-benefits-personal-approach-breast-cancer