[ad_1]
23andMe is in a death spiral. Almost everyone who wants a DNA test has already purchased one. Company reputation tarnished by nightmarish data breach, and 23andMe’s stock is nearly worthless and could be kicked off the Nasdaq. CEO Anne Wojcicki is on a crisis visit, assuring investors that the company won’t go out of business. Because she has new plans. 23andMe will double its ability to mine DNA data and sell it to pharmaceutical companies.
“We now have the ability to not only partner with other groups, but also mine datasets ourselves,” Wojcicki said in an interview. wired. “This is a real resource that many different organizations can apply for their own drug discovery.”
That was part of the plan from the beginning, but now it looks like it’s going to be done on an even larger scale. 23andMe has always forced its customers to agree to share their DNA for “research,” or the more familiar term “giving it to drug companies.” The company enjoyed an exclusive partnership with pharmaceutical giant GlaxoSmithKline, but that contract has expired, with drug companies apparently already sucking value from human DNA. 23andMe is currently looking for new companies that want to test your genes.
Wired asked Wojcicki whether customers realize that opting in to research means opting in to providing data to pharmaceutical partners. Wojcicki did not directly answer the question. “Unless you explicitly consent to individual-level data, it is not individual-level data,” she said. “I think most people want their lives to improve,” and those improvements require the company’s multimillion-dollar deals.
The most attractive opportunity for “improvement,” according to Wojcicki, is the ability for 23andMe and the pharmaceutical industry to develop new drugs. There’s a bit of irony here. Every discovery 23andMe makes comes from studying the DNA samples you collect. I paid a company to collect it.. 23andMe wants to use that gift to develop his second one, where users will also be given the privilege of paying. And now, there’s even a third chance for him to shell out his hard-earned cash, thanks to 23andMe’s exciting new subscription service.
The problem with 23andMe’s consumer business is that the company sells products that are only needed once in a lifetime. What’s worse, for most people the appeal of a DNA test lies in the novelty of the ancestry results, but if your sibling has already paid for the test, you already know the answer.
23andMe knows that’s a problem, so they’ve spent years branding themselves as a healthcare service, not just a $79 permit to tell people they’re Irish. I’m here. In fact, the company believes you’ll need to buy a recurring annual subscription to something called 23andMe+ Total Health. The annual cost is only $1,188. Or, if you don’t care that much about your health, you can choose the cheaper 23andMe+ Premium, which costs just $298 upfront and adds a subscription that renews for an additional $69.
The secret is that genetic screening doesn’t tell you much about your health, other than testing for certain diseases, which doctors rarely order unless there’s a family history. What 23andMe is selling you is a promise. Someday in the future, when genetic testing reveals more and 23andMe unlocks the secrets of the human genome, its medical services will be valuable to you.
What do you get with these subscriptions? It’s kind of vague. Some packages include services that “help you understand how your genetics and lifestyle affect your chances of developing certain diseases,” including testing for rare genetic conditions and Includes ancestral feature enhancements and more. Basically, they run genetic tests that you don’t need. In that case, doctors may or may not recommend seeing a doctor because they cannot provide actual medical care.
You can also start by having a normal conversation with your doctor, without going through an intermediary. Your doctor will order genetic testing if necessary and bill your insurance company. But that’s a lot less fun than paying hundreds or thousands of dollars to a technology company.
And it may happen! But that will only happen if 23andMe has the funds to unlock the secrets from your DNA, which is a long-term goal and a very expensive project. Wojcicki told Wired that he is “optimistic” and has saved companies from the brink before, but the climb ahead is likely to be even steeper, he said.
If 23andMe survives, the first step will be a deal that gives more companies access to your genetics than ever before. But if 23andMe goes out of business, it could be bought for parts or sold, and other companies would see your data anyway.
This article was originally published on Gizmodo.
[ad_2]
Source link
