Neither FarGen nor the other collaborators on this project will ever sell or patent your genetic data. The findings in this dataset may be informative for the development of therapeutics, or diagnostics and those can be one day commercialized.
FarGen has a yearly appropriate of 3 mill. DKK on the Faroese national budget, which primarily covers working expenses. The Danish Parliament has given the FarGen project funding on two occasions: 10 million DKK in 2015-2016 and 3 million DKK in 2018. The Genetic Biobank collaborates with Copenhagen University and the American company Variant Bio in order to explore the origin of the Faroese people and to perform association analysis between genetic variants and disease in FarGen 2. This will be financed by Variant Bio – about 10 million DKK. For more information about Dr. Fernando Racimo and Variant Bio see:
Efforts are constantly being made to obtain funding for specific projects through research collaborations and by applying for financing from research foundations, companies and other investors. However, the Human Genetics Research Act stipulates that ownership of the data cannot under any circumstances be sold or transferred.