As previously disclosed, on July 24, 2018, 23andMe Inc. (the ?Company? or ?23andMe?) and GlaxoSmithKline Intellectual Property (No. 3) Limited, an affiliate of GlaxoSmithKline plc (?GSK?) entered into a drug discovery, development and collaboration agreement, as amended on April 8, 2019 and January 13, 2021 (the ?Original GSK Agreement?).

The Original GSK Agreement had a four-year exclusive discovery term, which was extended pursuant to a unilateral option exercised by GSK on January 12, 2022, and which expired on July 23, 2023 (the ?Discovery Term?). During the Discovery Term under the Original GSK Agreement, the parties collaborated on identification and development of therapeutic agents directed to identified targets. Under the Original GSK Agreement, certain drug targets identified by the parties during the Discovery Term progressed as either a sole development program of one of the parties or as a joint development program of both parties.

With respect to each joint development program, the Company and GSK would share certain research, development and commercialization costs equally, subject to certain rights of either party to opt-out of funding such costs at certain predetermined development milestones. On October 27, 2023, the parties amended the Original GSK Agreement (the ?Third Amendment?) to provide GSK with a non-exclusive license to certain new, de-identified, aggregated data from global genome- and phenome-wide analysis of the 23andMe database (the ?New Data?) and to enable the Company to opt-out of cost-sharing and other research and development obligations with respect to certain programs under the Original GSK Agreement. Under the Third Amendment, GSK is obligated to pay the Company a $20 million data access fee in two installments of (i) $5 million following execution of the Third Amendment and (ii) the remaining $15 million after the date on which GSK receives New Data from the Company.

The Third Amendment provides for New Data to be delivered by December 1, 2023.