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23andMe Reportedly Faces Bankruptcy — What Will Happen to Everyone’s DNA Samples?

Accepted submission by fliptop at 2024-10-21 20:50:56 from the all-your-DNA-are-belong-to-us dept.
Security

Since it was founded nearly two decades ago, 23andMe has grown into one of the largest biotechnology companies in the world. Millions of people have used its simple genetic testing service, which involves ordering a saliva test, spitting into a tube, and sending it back to the company for a detailed DNA analysis.

But now the company is on the brink of bankruptcy [studyfinds.org]. This has raised concerns about what will happen to the troves of genetic data it has in its possession.

The company’s chief executive, Anne Wojcicki, has said she is committed to customer privacy [cbsnews.com] and will “maintain our current privacy policy”.

But what can customers of 23andMe [studyfinds.org] themselves do to make sure their highly personal genetic data is protected? And should we be concerned about other companies that also collect our DNA?

[...] 23andMe has had a rapid downfall after the 2021 high of its public listing.

Its value has dropped more than 97% [cnn.com]. In 2023, it suffered a major data breach [23andme.com] affecting almost seven million users and settled a class action lawsuit for US$30 million [cnet.com].

Last month its seven independent directors resigned [23andme.com] amid news the original founder is planning to take the company private [23andme.com] once more. The company has never made a profit [wired.com] and is reportedly on the verge of bankruptcy [abc.net.au].

What this might mean for its vast stores of genetic data is unclear.

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