23andMe has finally realized its ambition of monetizing its enormous genetic database by licensing a new drug compound to international pharmaceutical company Almirall.
But the sale has caused some medical and business ethicists to question whether the company's customers should be getting a cut of the big payday.
Why won't they?
The DNA is in the details...in Virtual Legality.
#23andMe #Genetics #Almirall
Discussed in this episode:
"23andMe Licenses Its Own Drug Compound to Spanish Firm Almirall"
Bloomberg - January 9, 2020 - Kristen V Brown
"DNA Test Company Sells Rights to Drug Compound Based on Customers' Genetic Data"
Science Alert - January 14, 2020 - Carly Cassella
23andMe Terms of Service
Updated September 30, 2019
Updated January 1, 2020
"GSK and 23andMe sign agreement to leverage genetic insights for the development of novel medicines"
23andMe Press Release - July 25, 2018
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"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).
Rick has practiced for more than a decade at some of the country's largest law firms, representing IT, software, video game, and other technology companies, as well as the individuals and institutions which fund them.
DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.
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Blog, "Rules of the Game", at https://hoeglaw.wordpress.com/
The Hoeg Law Firm is a business law firm with big law experience and a small firm approach focusing on start-ups, technology, financing, and everything else a business might need.