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OG biotech 23andMe is heading to bankruptcy, so what does that mean for the DNA of 14 million users?
- OG biotech 23andMe is on the verge of bankruptcy, raising concerns about what will happen to the troves of genetic data it has.
- 23andMe was founded in California in 2006 and tested the DNA of 14 million customers globally until now.
- The company went public in 2021 and initially the stock price soared, and by 2022 its valuation was $3 billion.
- The company has suffered a rapid downfall post-2021 after its stock price dropped and a major data breach affected almost seven million users.
- If the genetic testing company 23andMe goes bankrupt or is sold, people’s information might be accessed, sold or transferred as well.
- The company’s existing data privacy agreements with customers would remain in place even if there is any future ownership change.
- Customers’ data is used in different ways, and 23andMe shares the data with service providers.
- Deleting the account is the easiest way to opt-out of any future research and discard the saliva sample.
- While taking the DNA test is fun and rewarding, the results might not be all positive; finding out about health risks without guidance from a health professional can be scary.
- When buying DNA tests, check the companies’ conditions attached, guidelines from organizations, and what the company says about what it will do with your data.
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