23andMe resurrected

For most people, 23andMe is synonymous with direct-to-consumer genomics. It isn’t DNA sequencing, it’s microarrays that are capable of detecting many annotated variants. As with all direct-to-consumer genomics, the cost to consumers was supposed to be subsidized by the aftermarket for genetic information.

In the event, 23andMe declared bankruptcy recently, and there was a question of what would happen to all that genetic data.

“DNA testing company 23andMe (MEHCQ) is being purchased out of bankruptcy by large-cap drugmaker Regeneron (REGN) for $256 million.

“The deal includes "substantially all assets" but excludes the telehealth platform, pharmacy fulfillment business, and lab and test ordering services under Lemonaid Health, according to the agreement filed in the US Bankruptcy Court in the Eastern District of Missouri. The deal is scheduled to close July 1.”

*snip*

“The company had tried for 10 years to create a robust business segment pairing its DNA data bank with drug discovery, hoping to make it a more efficient process as the industry turned to more personalized and targeted treatments. But the few partnerships it succeeded in securing over the years produced little.

 

“Regeneron is already in the business of linking de-identified genetic data to drug discovery, according to co-founder and board chair George Yancopoulos.”

I got my genome sequenced by Veritas back in 2017, and also purchased my variant call file so I can look up any variants newly associated with diseases. But it seems that Veritas also struggled and had to be sold:

“In 2022, Veritas Genetics was acquired by LetsGetChecked.com, and Veritas Intercontinental, which focused on international genomics offerings, was also acquired at the same time, according to LetsGetChecked according to Business Wire. While Veritas Genetics is no longer a separate entity, its technologies and services are now part of LetsGetChecked.com's offering.”

As a graduate student in genetics, I never thought I’d live to see the human genome sequence, let alone get my own genome sequenced for $200. I’m glad it happened. I hope the day will come when anyone who wants it can get their genome sequenced.

https://finance.yahoo.com/news/23andme-to-be-acquired-by-regeneron-133851121.html

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