Latest news with #geneticData
Washington Post
3 days ago
- Business
- Washington Post
Fate of 23andMe genetic data still not settled amid bankruptcy fight
The fate of genetic data belonging to millions of 23andMe customers is again up in the air, as the bankrupt company seeks a judge's permission to consider another bid from its co-founder and undisclosed financial backers after previously accepting an offer from Regeneron Pharmaceuticals. A nonprofit research institute backed by Anne Wojcicki, 23andMe's co-founder and former CEO, has been pressing 23andMe to consider additional bids purportedly topping Regeneron's $256 million cash offer last month, arguing that the bankruptcy auction was closed prematurely. That has put 23andMe in a bind, with the firm saying in court filings it was it risk of litigation unless it effectively reopened the auction to entertain final offers from Wojcicki's group and Regeneron.
BBC News
4 days ago
- Business
- BBC News
Tech Life Data and me
What happens when a company we trust with our most personal data gets into financial trouble ? We hear from a woman who trusted a US company with her genetic information. Also on Tech Life this week, will there be enough electricity for the demands of artificial intelligence ? The International Energy Agency tells us about the challenges of powering the AI boom. And we find out how to grow an island in The Maldives. The tech involved could protect low-lying territories from erosion and rising sea levels. We enjoy reading your messages about the one item of tech you simply can't do without. If you want to tell us about your must-have piece of tech, please get in touch by emailing techlife@ or send us a Whatsapp message or voice memo on +44 330 1230 320. Presenter: Chris Vallance Producer: Tom Quinn Editor: Monica Soriano Image: A scientist holds a DNA sample with the results on a computer screen in a laboratory. Credit: Westend61/Getty Images
CNN
19-05-2025
- Business
- CNN
Regeneron to buy bankrupt DNA testing firm 23andMe for $256 million
Drugmaker Regeneron Pharmaceuticals will buy genetic testing firm 23andMe for $256 million through a bankruptcy auction, the companies said Monday. Regeneron said it will comply with 23andMe's privacy policies and applicable laws with respect to the use of customer data and that it is ready to detail its intended use of the data to a court-appointed overseer. The bankruptcy proceedings, filed in March, had drawn scrutiny from lawmakers who warned that millions of customers' genetic data could be sold to unscrupulous buyers. 23andMe last month agreed to allow a court-appointed overseer for the company's handling of customers' genetic information and its security policies during the bankruptcy. The company has collected genetic data from 15 million customers who ordered its DNA testing kits online and provided saliva samples. The company had been struggling with weak demand for its ancestry testing kits and a data breach in 2023 that exposed millions of customers' genetic data. As part of the agreement, Regeneron will acquire all units of 23andMe, except telehealth service Lemonaid Health, which the genetic testing firm plans to wind down. After the transaction completes, 23andMe will continue to operate as a wholly owned direct or indirect unit of Regeneron, the companies said. The companies expect to close the deal in the third quarter. See Full Web Article
The Guardian
19-05-2025
- Business
- The Guardian
Bankrupt DNA testing firm 23andMe to be purchased for $256m
Drugmaker Regeneron Pharmaceuticals will buy genetic testing firm 23andMe Holding for $256m through a bankruptcy auction, the companies said on Monday. Regeneron said it will comply with 23andMe's privacy policies and applicable laws with respect to the use of customer data and that it is ready to detail its intended use of the data to a court-appointed overseer. The companies expect to close the deal in the third quarter. The bankruptcy proceedings, filed in March, had drawn scrutiny from lawmakers who warned that millions of customers' genetic data could be sold to unscrupulous buyers. Sign up to TechScape A weekly dive in to how technology is shaping our lives after newsletter promotion 23andMe last month agreed to allow a court-appointed overseer for the company's handling of customers' genetic information and its security policies during the bankruptcy. As part of the agreement, Regeneron will acquire all units of 23andMe, except telehealth service Lemonaid Health, which the genetic testing firm plans to wind down. After the transaction completes, 23andMe will continue to operate as a wholly-owned direct or indirect unit of Regeneron, the companies said. The company has collected genetic data from 15 million customers who ordered its DNA testing kits online and provided saliva samples. It had been struggling with weak demand for its ancestry testing kits and the fallout from a data breach in 2023 that exposed millions of customers' genetic data.
CBC
19-05-2025
- Business
- CBC
Bankrupt DNA testing company 23andMe to be bought by Regeneron
Drugmaker Regeneron Pharmaceuticals will buy genetic testing firm 23andMe Holding for $256 million USD through a bankruptcy auction, the companies said on Monday. Regeneron said it will comply with 23andMe's privacy policies and applicable laws with respect to the use of customer data and that it is ready to detail its intended use of the data to a court-appointed overseer. The bankruptcy proceedings, filed in March, had drawn scrutiny from lawmakers who warned that millions of customers' genetic data could be sold to unscrupulous buyers. 23andMe last month agreed to allow a court-appointed overseer for the company's handling of customers' genetic information and its security policies during the bankruptcy. The company has collected genetic data from 15 million customers who ordered its DNA testing kits online and provided saliva samples. The company had been struggling with weak demand for its ancestry testing kits and a data breach in 2023 that exposed millions of customers' genetic data. As part of the agreement, Regeneron will acquire all units of 23andMe, except telehealth service Lemonaid Health, which the genetic testing firm plans to wind down. After the transaction completes, 23andMe will continue to operate as a wholly owned direct or indirect unit of Regeneron, the companies said. The companies expect to close the deal in the third quarter of this year.
