Cornyn, Grassley and Klobuchar deploy invoices to protect data during 23AndMe bankruptcy

First on FOX: Republican Sens. John Cornyn and Chuck Grassley and Democrat Sens. Amy Klobuchar are deploying bipartisan measures to protect sensitive genetic data in response to privacy concerns raised. 23 Andme’s bankruptcyFox News Digital learned.

Cornyn, R-Texas; Grassley, R-Iowa; D-Minn. Klobuchar has introduced the DONT SELL MY DNA Act, which protects sensitive genetic information from customers when maintaining entities that maintain data files for bankruptcy. The bill adds genetic information to the Bankruptcy Act’s definition of “personally identifiable information.”

Protect genetic data: 23 AndME’s emergency steps after bankruptcy

Under current law, bankruptcy law provides protection of personally identifiable information in bankruptcy court proceedings to prevent the possibility of identity theft, harm, or other unlawful injury.

Senate aides told Fox News Digital that the current definition of personally identifiable information includes the individual’s name, address, email, phone number, Social Security number, credit card number, and other information that can be used for identification purposes.

These aides said the definition was “outdated” and did not include any reference to genetic information and would leave the information vulnerable.

“The law will resolve this issue by updating the Bankruptcy Act’s definition of “personally identifiable information” to include genetic information,” the Senate aide said.

The bill also addresses consumers Privacy concerns By requesting the company to provide prior written notice of the use, sale or lease of genetic information after a bankruptcy case has begun, by positively agreeing to the consumer to sell or lease of genetic information and by providing prior written notice of the use, sale or lease of genetic information during bankruptcy.

The bill also requires that genetic information that is owned by the trustee or debtor and that is not subject to sale or lease is removed.

“While advances in DNA testing have given Americans unprecedented access to important insights into genetics, these companies need to have plans to protect this data in the event of bankruptcy,” Cornyn told Fox News Digital.

“By updating the Bankruptcy Act, this Act protects confidential information from Americans and ensures that it cannot be weaponized or published to them without knowledge and consent.”

And Klobuchar said that companies are “profiting from American data while consumers are left in the dark, especially in light of reports that 23andMe plans to sell customer genetic data assets to large pharmaceutical companies.”

“The bill will implement new protections to protect American privacy and provide more control over how their sensitive health data is shared with consumers,” Klobuchar said.

Grassley said Fox News Digital Consumers should be “convinced that it’s personal.” INOMFORTION shared with a public company cannot be obtained when the company files bankruptcy. ”

Grassley told Fox News Digital that the bill would “fill a gap in current law to protect consumer genetic information and to prevent American DNA from being treated like other financial assets.”

23Andme announced on Monday that Regeneron Pharmaceuticals will purchase 23andMe through bankruptcy auctions.

Senate aides said Regeneron “promises to protect consumer information, but data privacy concerns remain regarding future bankruptcy.”

Regeneron Pharmaceuticals buys bankruptcy 23andme in a $256 million deal

Genetic testing company 23AndMe, once a pioneer in consumer DNA testing, filed for Chapter 11 bankruptcy in March amid growing concerns over financial struggles, leadership cradles and security of client genetic data.

Regeneron Pharmaceuticals has announced that it will acquire “virtually everything” of the assets of genetic testing company 23andMe.

The pharmaceutical company has won a court-supervised auction for genetic testing companies, saying Regeneron has agreed to pay $256 million for its assets. The 23andMe auction was part of it Chapter 11 Bankruptcy Protected submitted in March to arrange for sale of the business.

In its bankruptcy petition, the company estimated the range of $100 million to $500 million for its assets. The estimated liabilities were the same.

According to 23andMe, the pharmaceutical company is purchasing 23andMe’s personal genomic services and its health and research services segment.