Sei Expands into DeSci, Eyes Acquisition of Biotech Firm 23andMe

The initiative aims to give users greater control over their personal data by using the Sei blockchain, a platform built for high-throughput web apps.

Moreover, according to public statements on X, the project's founders intend to restore ownership of sensitive data to users, ensuring secure, encrypted access to their information.

The DeSci movement is gaining traction, with blockchain technology offering a new framework for storing and monetizing information.

Initiative Details

23andMe has recently received court approval to sell its assets. Under bankruptcy law, any acquisition deal must generate more than $214 million to meet creditor claims.

Meanwhile, the Sei Foundation believes that losing control over genetic data could pose a national security risk, as the personal information of millions of users might fall into the hands of actors who disregard principles of transparency and open access.

Related: An Overview of Sei — Layer 1 on Cosmos SDK

According to the initiative, the genetic data would be migrated to the Sei blockchain. This would give users full ownership of their genetic records, the ability to set terms for data monetization, and a share in the revenue generated from its use.

This isn't just about saving a company, it's about building a future where your most personal data remains yours to control,

Sei wrote on X.

Market Reaction

News of 23andMe’s potential move to the blockchain has caught the attention of investors. According to Yahoo Finance, shares of 23andMe jumped 45%, closing at $0.77 and bringing the company’s market capitalization to around $21 million.

In addition, the platform’s native token SEI (traded on WhiteBIT) saw a slight increase following the announcement, reaching $0.215. However, the price later dipped amid broader volatility in the crypto market.

Moving Toward DeSci

In January, the Sei Foundation launched Sapien Capital, a $65 million fund dedicated to supporting startups in the decentralized science (DeSci) space. The fund aims to empower companies using blockchain technology to improve scientific research, giving them greater opportunities for growth and innovation.

Amid these developments, public officials, including the attorneys general of New York and California, have urged 23andMe users to review how their personal data is handled, citing concerns over the company’s financial instability.

Overall, the Sei Foundation’s initiative could become a turning point in the way genetic information is managed, paving the way for more secure and transparent personal data control through modern tech solutions.

Related: From DeFi to DeSci: How Decentralization Empowers Science