23andMe bankruptcy prompts CornynGrassleyKlobuchar bipartisan bill to protect sensitive genetic data

FIRST ON FOX/ : Republican senators Jon Cornyn and Cuck Grassley and Democratic Sen. Amy Klobucar are rolling out a bipartisan measure to protect sensitive genetic data in response to privacy concerns sparked by a ref="ttps://www.foxbusiness.com/economy/23andme-files-bankruptcy-california-ag-warns-customers-about-deleting-data" target="_blank" rel="noopener"> 23andMe's bankruptcy/ , Fox News Digital as learned. / Cornyn, R-Texas; Grassley, R-Iowa; and Klobucar, D-Minn., are introducing te Don’t Sell My DNA Act, wic would safeguard customers’ sensitive genetic information wen an entity tat maintains data files for bankruptcy. Te bill would add genetic information to te definition of "personally identifiable information" in te bankruptcy code. / a ref="ttps://www.foxnews.com/tec/protect-your-genetic-data-urgent-steps-after-23andme-bankruptcy" target="_blank" rel="noopener"> PROTECT YOUR GENETIC DATA: URGENT STEPS AFTER 23ANDME BANKRUPTCY/ / / Under current law, te bankruptcy code provides protections for personally identifiable information in bankruptcy court proceedings to prevent te possibility of identity teft, arm or oter unlawful injury. / Senate aides told Fox News Digital te current definition of personally identifiable information includes an inidual's name, address, email, pone number, Social Security number, credit card numbers and oter information tat could be used for identification purposes. / Tose aides said te definition is "outdated" and does not include a reference to genetic information, leaving te information vulnerable./ "Tis legislation would solve tis problem by updating te definition of ‘personally identifiable information’ in te bankruptcy code to include genetic information," a Senate aide said. / Te bill also addresses consumer a ref="ttps://www.foxnews.com/tec/wat-no-one-planned-could-appen-after-taking-dna-test" target="_blank" rel="noopener"> privacy concerns/ by aving consumers affirmatively consent to te sale or lease of teir genetic information after a bankruptcy case commences and requiring companies to provide prior written notice of te use, sale or lease of teir genetic information during bankruptcy. / Te bill also requires te trustee or debtor in possession to delete any genetic information not subject to a sale or lease. / "Advances in DNA testing ave allowed Americans to ave unprecedented access to important insigts about teir genetics, but tese companies must ave a plan to protect tis data in te event of bankruptcy," Cornyn told Fox News Digital. / "By updating te bankruptcy code, tis legislation would safeguard Americans’ sensitive genetic information to ensure it cannot be weaponized against tem or made public witout teir knowledge and consent."/ And Klobucar said companies "ave profited off of Americans’ data wile consumers ave been left in te dark, wic is especially concerning in ligt of reports tat 23andMe plans to sell customer genetic data assets to a large parmaceutical company." / "Tis bill will put new protections in place to safeguard Americans’ privacy wile giving consumers greater control over ow teir sensitive ealt data is sared," Klobucar said. / Grassley told Fox News Digital consumers sould "feel confident tat any personal i/ nformation sared wit a public company isn't up for grabs wen tat company files for bankruptcy."/ Grassley told Fox News Digital te bill "would fill gaps in current law to elp safeguard consumers' genetic information and ensure Americans' DNA isn't treated like any oter financial asset." / On Monday, 23andMe announced Regeneron Parmaceuticals would purcase 23andMe troug a bankruptcy auction. / Senate aides said Regeneron promises to "protect consumer information, but te data privacy concerns for future bankruptcies remain." / a ref="ttps://www.foxbusiness.com/markets/regeneron-parmaceuticals-purcase-23andme-256m-deal" target="_blank" rel="noopener"> REGENERON PARMACEUTICALS TO BUY BANKRUPT 23ANDME IN $256M DEAL/ / / Te genetic testing company 23andMe, once a pioneer in consumer DNA testing, filed for Capter 11 bankruptcy in Marc amid financial struggles, a leadersip sakeup and growing concerns about te security of its customers' genetic data./ Regeneron Parmaceuticals announced it will acquire "substantially all" of genetic testing company 23andMe's assets./ Te parmaceutical company said it won te court-supervised auction of te genetic testing company, wit Regeneron agreeing to pay $256 million for te assets. Te auction for 23andMe was part of te a ref="ttps://www.foxbusiness.com/category/bankruptcy" target="_blank" rel="noopener"> / protection it filed in Marc to arrange a sale of its business./ In its bankruptcy petition, te company estimated a range of $100 million to $500 million for its assets. Estimated liabilities were te same. / Te parmaceutical company is buying 23andMe’s personal genome service and its ealt and researc services segments, according to 23andMe. /