24Genetics is looking for allies in the hospital sector. The Spanish biotech company has signed an agreement with the Quirónsalud group whereby the operator will now offer the biotech’s genetic tests under its own brand, Powered by 24Genetics, as Nacho Esteban, founder, and CEO of 24Genetics, explained.
The Madrid-based company offers its tests with other operators, such as the clinical analysis group Eurofins Megalab. In total, 24Genetics’ network of distributors exceeds 20 countries, according to Esteban.
This is not the only new development for the Madrid-based company, which has recently launched two new brands to “cover market segments in which we did not yet have a presence,” the company founder points out. 24Genetics has a spin-off, Ancestrum, a genetic ancestry test that is complemented with ethnic ancestry, maternal haplogroup or paternal haplogroup.
The company’s other brand is GalaxyDNA, which aims to compete in the lower price segment, below 100 euros. With this test, a person can obtain information about his or her propensity to multiple diseases, sporting abilities, skin characteristics or certain personality traits, among many other aspects.
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24Genetics is present in an office space for technology companies on Broadway Street in Boston
In parallel, the company has just landed in Boston (United States), where it has set up an office space for technology companies on Broadway Street in the American city, less than 500 meters from the Massachusetts Institute of Technology (MIT). The biotech company is present in more than 100 different countries through local distributors.
The prices of the devices marketed by 24Genetics range from approximately 99 euros to 400 euros. The company offers different DNA tests: ancestry, nutrigenetic, pharmaceutical, health, sports performance, dermogenetic, and talent and personality.
A year and a half ago, 24Genetics closed a €1.2 million financing round through the crowdfunding platform Capital Cell. The capital raised enabled the biotech company to increase its marketing budget, launch a new app, expand internationally and market the new brands it currently markets.
More than 700 investors participated in the financing round, with a minimum investment of 250 euros, including profiles from companies such as Blackstone or Johnson&Johnson.
In addition to Esteban, the management team of 24Genetics includes Antonio García-Urgelés, who has developed his professional career in the information and communication technologies sector, holding executive positions as a business manager for more than 25 years in companies such as Microsoft, TerraLycos, and Vodafone. García-Urgelés is chairman of the board of directors.
Also on the management team is Diego San Román, who has held executive positions in companies such as Hewlett-Packard, Samsung, Microsoft, and Dominion. In addition, he has been an entrepreneur in the United States and has carried out business projects in other countries in the Americas, Europe, and Asia. San Román is Vice Chairman of the Board of Directors of the biotech company.
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First published in PlantaDoce, a third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the original will prevail.
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