Ever thought of having your genome sequenced? 23andMe ... describes itself as a "genetics-led consumer healthcare and biotechnology company empowering a healthier future". Its share price had fallen precipitately following a data breach in October 2023 that harvested the profile and ethnicity data of 6.9 million users " including name, profile photo, birth year, location, family surnames, grandparents' birthplaces, ethnicity estimates and mitochondrial DNA. So on 24 March it filed for so-called Chapter 11 proceedings in a US bankruptcy court. At which point the proverbial ordure hit the fan because the bankruptcy proceedings involve 23andMe seeking authorisation from the court to commence "a process to sell substantially all of its assets". And those assets are ... the genetic data of the company's 15 million users. These assets are very attractive to many potential purchasers. The really important thing is that genetic data is permanent, unique and immutable. If your credit card is hacked, you can always get a new replacement. But you can't get a new genome. When 23andMe's data assets come up for sale the queue of likely buyers is going to be long, with health insurance and pharmaceutical giants at the front, followed by hedge-funds, private equity vultures and advertisers, with marketers bringing up the rear. Since these outfits are not charitable ventures, it's a racing certainty that they have plans for exploiting those data assets.
Latest
Latest News
Each news summary is created according to strict standards. Here's how we do it.
Each summary is created using a consistent editorial procedure. The target length is approximately 16 lines of 11-point Arial text in a 650-pixel-wide column. Up to 25% of a summary may be set in bold to emphasize the most important ideas. Summaries are composed of verbatim excerpts presented in the same sequence as they appear in the original news source, with very minor editorial additions. Where material has been omitted between excerpts, the omission is indicated with ellipses (...). Any words added by an editor for clarity or context appear in [brackets]. Our original news editor was Fred Burks. Tod Fletcher edited most summaries from 2007 through 2014, and Mark Bailey has served as news editor since 2014.