A London-based company has cashed in on the boom in DNA-testing kits by selling itself to a Hong Kong firm backed by Alibaba.
Prenetics, which the Chinese internet retail behemoth invested in last year, has paid $10m (£7m) to acquire DNAFit, a five-year-old company that sells tests designed to determine a person’s suitability to different diets and exercise regimes.
The company sells the tests online and through employee benefits schemes for up to £249, and has sold tens of thousands of the kits.
Avi Lasarow, DNAFit’s chief executive, owns just under half of the company and will lead Prenetics’ international operations after the deal.
Demand for at-home DNA testing kits has boomed in recent years…