23AndMe to court-approved Ex-CEO nonprofit organizations

Date:

play

The bankruptcy judge has approved the sale of genetics company 23andMe to a nonprofit led by co-founder and former CEO Anne Wojcicki, according to a June 27 filing with Bankruptcy Docket.

TTAM Research Institute plans to purchase its personal genomic services, research services, Lemonaid Health Business for $305 million.

“As the founder of 23andme, Wojcicki is well positioned to advance the company’s vision of helping people access, understand and gain health benefits by improving their understanding of the human genome.”

In a June 30 release, Wojcicki said that the nonprofit would continue the company’s mission to understand the human genome of “public goods.”

“The heart of my belief is that individuals can have choice and transparency regarding their genetic data and have the opportunity to continue learning about their ancestors and health risks as they wish,” Wojcicki said.

Sale Plays Regeneron Bid

The sale to TTAM will replace a $256 million bid by drug maker Regeneron in May.

“We are pleased that the competitive bidding process has increased significantly to our stakeholders, while enhancing key protections regarding customer privacy, choices and consent regarding genetic data,” Jensen said.

27 states and the District of Columbia sued in federal court in June to block sales, saying that the privacy, security and ethical use of 23 people will prioritize the use of 23andMe customer data.

The lawsuit alleges that the sale to Regeneron violates the privacy laws of individual states.

What happens to data from users on sale?

23Andme said in a press release on June 13th that TTAM will continue its policy allowing users to delete their accounts and genetic data, and will opt out of permanent research.

At the same time, TTAM continues to allow the identified data to be used for scientific and biomedical research to study researchers from academic universities and other nonprofit organizations for scientific and biomedical research.

TTAM will establish a Consumer Privacy Advisory Committee within 90 days of the end of sale, and customers will be emailed at least two business days before the end of sale.

In 2023, hackers released personal data for nearly 7 million 23andme customers over five months, causing a major blow to the company’s reputation and exacerbated growth issues.

Contributor: Mary Walrath Holdridge, USA Today; Router

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Are you ready to invest in gold? Compare Goldco and Augusta Precious Metals

Goldco and Augusta Precious Metals are well-known gold IRA...

Why did the federal government launch Alien.gov? What we know.

The domains were made public less than a month...

Senate committee begins full vote on Markwayne Mullin’s DHS confirmation

Sen. John Fetterman, a Democrat from Pennsylvania, was a...

Another Kona storm forecast after ‘astronomical’ rain in Hawaii

Officials are still assessing and dealing with damage from...