Somos

Accelerating Drug Discovery for Minorities

Company Information

Website:

https://www.somosancestria.com/

Sector:

Biotechnology

Location:

San Francisco, CA

Globally, there are more than 650 million people of Latino, Hispanic, or Native American ancestry.

Yet only about one percent of genetic data available for research comes from these groups. Latinos, specifically, are represented in less than one percent of clinical trials.

SOMOS aims to change that. This biotech company specializes in genetic testing and drug development. Think of it as 23andMe for the Latino, Hispanic, and Native American populations.

Through DNA testing and health data aggregation, SOMOS seeks to improve clinical research for minorities like these, and save both on healthcare costs, and on lives lost to medical issues.

As mentioned, Latinos have been underrepresented in drug discoveries and clinical research. Incredibly, there have been zero drugs discovered through Latino genetic information. Yet this group represents twenty percent of total U.S. pharmaceutical sales — more than twenty-three billion dollars.

Not only does this lack of representation cost fifty billion dollars a year in health disparities in the U.S., but it also increases health risks for the millions of Latinos around the world.

SOMOS plans to accelerate drug discovery for this population, by building the largest decentralized Pan-American biobank called “Familia.”

Building a biobank will require Latino genomes. And to gather these genomes, the company has developed an ancestry service, similar to 23andMe or Ancestry.com.

Users can identify their ancestry, among other regions and ethnic groups. Using microarray technology to genotype millions of genetic markers, SOMOS can give users deeper insights into genetic heritage, as well as opportunities to participate in decentralized research.

The end user experience is similar to Ancestry or 23andMe, except they’re given region-specific data about where their ancestors came from within Latin America.

From this genetic data, SOMOS will identify unique genetic markers that can:

• Improve clinical research in minorities.

• Improve prediction capacity for disease risk scores.

• Provide improved direct-to-consumer DNA services to Latinos.

• And save billions in drug development.

SOMOS has two products on the market: a full DNA test kit, and a data re-analysis service. This is for people who have already used Ancestry or 23andMe but wish to have their DNA re-analyzed with a focus on Latin American ancestry.

DNA test kits sells for between $149 and $199, and re-analysis services are thirty-nine dollars. A subscription to access premium features is ninety-six dollars.

According to MIT, the U.S. could expect eighteen million Latinos to take a DNA ancestry test within the next two years. SOMOS aims to capture five percent of that market.

That would equal 900,000 people. And if each one purchased a $199 test kit, that would translate to nearly $180 million in revenue.

SOMOS launched in the U.S. in September 2020. It has since attracted more than 4,700 customers and generated $226,000 in revenue.

The company has completed startup accelerators MassChallenge & AccelHUB Bridge to Boston, and the Manos Accelerator by Google Launchpad. It has medical partnerships with genetic testing companies GenoBank and Variant Bio, as well as partnerships with Latino-focused groups Mexican Genealogy and the Hispanic Heritage Foundation.

Team Background

Federico von Son - Co-Founder & CEO

Federico is a doctor who has spent most of his career in Mexico, where he’s received multiple R&D grants from the Mexican government, and managed more than five million dollars in contracts for the country’s health sector.

Early in his career, he was CEO of Mi ADN Mexico, a biotechnology research company focused on genetics. He then was Chief Strategy Officer with KPMD, a medical company creating a “smart” stethoscope to help doctors make better decisions.

More recently, Federico was an advisor on the Research, Development, and Innovation Council at UAEM State University (Universidad Autonoma del Estate de Morelos). While there, he created the first innovation hub for health-related technologies.

For the past eight years, in addition to his role with SOMOS, he is an associate professor at EL ISIENA, a professional training and coaching institution focused on the medical space.

Federico holds a Master’s degree in Biomolecular Medicine, and an MD from UAEM, and studied at MIT’s Sloan School of Management.

Christian Rodriguez - Co-Founder & CTO

Christian is a doctor and data scientist.

Prior to starting SOMOS, he co-founded KPMD, the medical company creating a “smart” stethoscope for doctors. Like CEO Federico von Son, Christian also spent time as an advisor at UAEM State University.

Early in his career, he worked with Federico as Chief Innovation Officer at Mi ADN Mexico, the biotech research company focused on genetics. He began his career as Chief Technology Officer with Tetemik, a technology company focused on accelerating and commercializing innovations.

Christian earned a Bachelor’s degree in Medicine and an MD from UAEM.

Co-Investors

Raising
$1.07 million
Committed
$43.384K (4%)
Current Valuation
$20 million Cap / 0% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
SAFE
Finance History
  • $100K
    2021-05-04
    Unknown
Notable Investors
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