The battle for 23andMe's DNA customer data [Yahoo! Finance Canada]
23andMe Holding Co. (ME)
Company Research
Source: Yahoo! Finance Canada
A bankruptcy filing by personalized genomics firm 23andMe ( ME ) calls into question what happens to its most valuable asset: genetic data from 15 million customers. "I think the law on that is pretty unclear at this point," said Jonathan Lipson, a bankruptcy law professor at Temple University's Beasley School of Law. The murky legal ground sets up an uncertain future for 23andMe and its customers, especially those who want their DNA and other information obliterated from the records of a biotech company that once dazzled Silicon Valley. The company built a following by asking customers to mail in their biological information through "cheek swabs." In exchange for a fee, customers received gene-based health indicators, ancestral histories, and subscription services that provided them with control over their data. But under bankruptcy protection, a "stay" halts enforcement of all contractual obligations against the company. And its assets — potentially including customer biome
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