23andMe, Genetech enter $50M deal
Pharmaceutical company Genetech is expected to pay as much as $50 million to 23andMe to access its genetic data donated by consumers, reports The Verge.
In 2013, 23andMe was prohibited from selling its saliva test kits after they were judged to be in violation of the FDA’s marketing guidelines. However, before that took place the company already had attracted about 800,000 customers, of which three-quarters had consented to utilize their data anonymously for medical research, according to the story.
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