23andme to be sold to Regeneron Pharmaceuticals: BBC

[Dzzope]

 

Summary

Finally have the answer to what or who is happening to 23&me after they filled for bankruptcy protection in March.

 

Quotes

Quote

23andMe says it has entered into an agreement to be acquired by Regeneron Pharmaceuticals for $256m

Last month, the firm agreed to have an ombudsman oversee the protection of user data in response to demands by several state attorneys general in the US.

The officials expressed concern over the potential for unscrupulous buyers to wield the data against consumers.

 

Regeneron will acquire nearly all of 23andMe's assets, the company said in a statement.

Its subsidiary Lemonaid Health will be wound down under the agreement.

 

23andMe will continue to operate as a wholly-owned unit unit of Regeneron, which said it would use the firm's data for drug development.

 

My thoughts

Coulda been a whole lot worse. Depends on what if any oversight there is. Far from perfect, obviously, but at least it is going to an organisation involved in medical developments vs insurance or... 

 

Thoughts?

 

Sources

 https://www.bbc.com/news/articles/c0ln0e5g6kgo

[Dutch_Master]

As the new owner, Regeneron is bound to contracts and agreements the company has committed to prior to the acquisition. That includes the EU directives and laws summarised in the GDPR: https://www.23andme.com/en-eu/gdpr/

 

So, personal data should be safe. Notice the emphasis on should, as there's nothing stopping them selling stuff "under the counter" if the money is enough to offset any fallout from Brussels