Mygene
| Company type | Private |
|---|---|
| Industry | Genetic testing, Biotechnology |
| Founded | 2007 |
| Founder | Harry Banaharis |
| Defunct | 2013 |
| Headquarters | Melbourne , Australia |
Key people | Harry Banaharis, Nick Argyrou, Helen Argyrou, David Koadlow, Graeme Smith |
| Products | Genetic assays, Nutrigenetic testing kits, Customized meal replacement products |
Disambiguation
This entry pertains to the previous Australian enterprise MyGene Pty Ltd (ACN 137 407 848), which operated between 2007 and 2013, and should not be confused with the currently active MyGene Pty Ltd established in 2020 (ACN 646 563 064).
MyGene Pty. Ltd. was a privately owned genetic testing company headquartered in Melbourne, Australia, managing an accredited laboratory facility on-site.
The company focused on creating genetic assays and providing interpretive analyses that evaluated how genetics influence individual dietary responses, a field known as nutrigenetics.
Establishment
MyGene was founded by Harry Banaharis, evolving from initial research on umbilical cord blood profiling and later investigations into mesenchymal stem cells. The enterprise aimed to serve individuals interested in uncovering their unique genetic profiles to tailor nutrition and exercise plans for enhanced health benefits. Early testing services were outsourced; however, difficulties in partnering with reliable Australian laboratories prompted Banaharis to launch an internal laboratory.
In 2006, he financed a pilot gene testing laboratory situated within the Alfred Hospital research facility, utilizing a Biotage Pyrosequencer to study epigenetic modifications in the promoter region of the TGF-beta gene as part of his Honours research project.
The year 2007 saw the debut of MyGene’s "DNA to data" commercial lab located in Melbourne’s central business district, alongside the release of Australia’s first direct-to-consumer genetic testing kit: the Sports Performance Gene Test. This kit examined single nucleotide polymorphisms (SNPs) in genes associated with athletic power versus endurance (ACTN3, ACE I/D) and a gene linked to susceptibility to head trauma (APOE4). Included were two buccal swabs, a unique access code for online result retrieval, and a prepaid return envelope.
Expansion
In 2009, Harry Banaharis was joined by Nick Argyrou, a property development professional and former director at SelecTV, along with his wife Helen Argyrou, who had experience in pharmacy entrepreneurship. The Argyrous identified potential for innovation within the competitive meal replacement sector and guided the company toward creating nutrigenetic-based products and services.
Nutritional biochemist and biomedical researcher Graeme Smith was brought on board to design meal replacement formulations and develop weight loss programs tailored through genetic profiling.
By 2010, David Koadlow—an influential investor in Australian genetic testing company Lumigenix—secured a controlling interest in MyGene. Under his leadership, the firm pioneered the world’s first genetic testing business offering meal replacement products customized according to genetic profiles via the MyGene Weightloss Complete Genetic Program.
In 2011, Dr Les Sheffield, founder of MyDNA, became a member of MyGene’s scientific advisory board.
Nutrigenetics
MyGene’s methodology involved forecasting inherited dietary responses by analyzing gene variants connected to glucose and lipid metabolism disorders (refer to patent US2012258183). Detection of genetic variants associated with impaired glucose metabolism suggested elevated carbohydrate sensitivity; similarly, variants influencing lipid metabolism implied increased fat sensitivity.
Such sensitivities indicated that reducing intake of specific macronutrients could enhance metabolic health. Additional assays evaluated genes related to gluten intolerance, lactose intolerance, salt preference, appetite regulation, folate processing, and vitamin D metabolism.
MyGene Weightloss Complete Genetic Program
Launched in 2011, MyGene introduced a nutrigenetic weight management initiative that integrated genetic testing, customized meal replacements based on DNA analysis, and a structured 12-week nutrition plan. Partnering with The Pharmacy Guild of Australia, select pharmacies provided consultation spaces where clients submitted DNA samples and received diet advice tailored to their genetic profiles. This program was also accessible within clinical settings as a treatment option for obesity.
Program Withdrawal
Although the Pharmacy Guild supported the initiative, MyGene's nutrigenetic dietary program encountered criticism due to a lack of robust clinical validation. Dr. Ken Harvey from La Trobe University questioned MyGene to supply data regarding the tests' accuracy and reliability. Following an unsatisfactory reply and advocacy by Professional Pharmacists Australia to revoke pharmacy backing, the Weightloss Complete Genetic Program was discontinued in 2012.
In 2016, myDNA's pharmacogenetic test faced comparable doubts within the Australian market concerning its clinical effectiveness and patient advantages. Similar to MyGene's nutrigenetic offering, myDNA’s pharmacogenetic test was distributed through pharmacy channels.
Voluntary Administration & Wind Up
On 11 September 2013, amid persistent conflicts among principal shareholders, majority stakeholder David Koadlow initiated voluntary administration for MyGene, which ultimately led to the company’s dissolution.