23andMe Is Going Public As It Pushes Further Into Healthcare 16
23andMe is becoming a publicly-traded company through a merger with Virgin's VG Acquisition. Engadget reports: The deal values 23andMe at about $3.5 billion and should give the company the finances it wants to boost its personal healthcare and therapeutics plans. It should have over $900 million in cash, for instance. The merger is expected to close in the second quarter of 2021 and will have private $25 million investments from both 23andMe chief Anne Wojcicki and Virgin's Sir Richard Branson.
While 23andMe didn't say much about how its strategy might change by going public, it was keen to promote its contributions to genetic research and its involvement in therapeutic programs for conditions like cardiovascular disease and respiratory issues. As Sir Branson suggested, the public offering could help 23andMe "revolutionize" personalized medicine.
While 23andMe didn't say much about how its strategy might change by going public, it was keen to promote its contributions to genetic research and its involvement in therapeutic programs for conditions like cardiovascular disease and respiratory issues. As Sir Branson suggested, the public offering could help 23andMe "revolutionize" personalized medicine.
Your personal DNA information will be sold. (Score:3)
"... the DNA you provide for a genealogy test could be shared in a market worth trillions."
DNA test security alert: Why you should think twice about getting one [tomsguide.com]
can they copyright / trade make it & then bill (Score:2)
can they copyright / trade make it & then bill you per kid and DNA usage fee?
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.001 cents or .001 dollars?
Re: can they copyright / trade make it & then (Score:3)
That has already happened.
They did not sue for reasons of not raising attention yet,
but people have found out businesses patented random gened found in nature and in humans.
Yes, I know that is entirely not how patents are supposed to work. No invention was made. No work 'needs' a 'temporary' monopoly.
Selling your DNA information to GameStop? (Score:2)
The stock market is packed with insane speculative values like this. The reality is more like the proverbial 10 lbs of BS in the 5-lb bag.
All of it is just a timing game. If GameStop had played the game correctly with their own stock, then they may have captured enough cash out of the hedge funds losses so that they can sit on their purely timing-based profits for the next 10 years.
These days 10 years is as long as Infinity as far as the stock market is concerned. In reality, DNA information about h
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English (Score:3)
As Sir Branson suggested...
Seriously? Who wrote that?
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Name is tarnished (Score:5, Informative)
Anything to do with health and Branson and Virgin is completely trashed in the UK after they sued the National Health Service and various other bodies because they lost a contract worth 82 million pounds.
God forbid. (Score:2)
They are one of the worst of the privacy offenders, spreading personal information throughout the entire world without a care.
They only work because they appeal to idiots. Yes, let's find out if Mom (or grandma) cheated on dad or grandpa.
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They are one of the worst of the privacy offenders, spreading personal information throughout the entire world without a care.
They only work because they appeal to idiots. Yes, let's find out if Mom (or grandma) cheated on dad or grandpa.
Yup, and does anyone think for a second that all of their DNA is not turned over to law enforcement as a matter of course? Won't even have to ask for it.
"The public offering could help 23andMe" (Score:2)
the public offering could help 23andMe "revolutionize" personalized medicine
... leveraging the private medical data from its clueless clients.
Proof they are a bullshit snake oil company: (Score:3)
Submit your genes n times, get n different results.
Because they don't do whole-genome sequencing. But gene chopping, mass-duplication, and then a lot of wild guesswork as to how the short bits are supposed to go together.
As if our genes weren't full of repetitions that make that entirely ambiguous.
But wait, there's more!
They are whoring off your genes to ALL the spying and policing agencies and ad businesses too!
And if you're extra lucky, your own damn genes will get patented too, and theoretically, they could sue you for patent violation, if you'd ever had any children!
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> And if you're extra lucky, your own damn genes will get patented too, and theoretically, they could sue you for patent violation, if you'd ever had any children!
One would think you could counter-sue for prior art, no? /s