Court blocks sale of 54gene assets as founder blames investors for its collapse

Federal High Court stops sale of 54gene’s assets amid legal dispute - Innovation Village | Technology, Product Reviews, Business

A Federal High Court in Lagos has issued an injunction preventing the sale of assets belonging to 54gene, a once-prominent African genomics startup. Among the assets frozen is a highly sensitive biobank containing genetic data from over 100,000 Nigerians. The court’s decision follows a lawsuit filed by the company’s founder, Dr. Abasi Ene-Obong, who accuses 54gene’s lead investors of orchestrating the company’s collapse and attempting to offload…

Nigerian Court blocks 54gene asset sale after investor drama

A Federal High Court in Lagos has stopped the sale of 54gene’s assets, including its biodata of 100,000 Nigerians. The decision follows a lawsuit filed by founder Abasi Ene-Obong, who alleges that the startup’s lead investors forced the company into collapse and moved to sell off its data under questionable terms. Ene-Obong’s petition, filed in July 2025, names the Cathay AfricInvest Innovation Fund and Adjuvant Capital as the key players behind…

Court blocks sale of 54gene assets as founder blames investors for its collapse

A Federal High Court in Lagos has blocked the sale of assets belonging to healthtech startup 54gene to prevent the dissolution of the company, according to court documents. Per the records, Founder of the startup, Dr. Abasi Ene-Obong, in July 2025, petitioned the startup’s largest investors, Cathay AfricInvest and Adjuvant Capital, before the federal high court sitting in Lagos, accusing them of orchestrating its collapse.  He alleged the invest…

Nigerian court blocks sale of 54gene's assets

A Federal High Court in Lagos has granted an injunction blocking the sale of 54gene’s assets, preventing the dissolution of what was once one of Africa’s most promising startups, according to court documents seen by TechCabal. Assets slated for sale included the biodata of 100,000 Nigerians priced at $3 million. In a petition filed in July 2025, Dr. Abasi Ene-Obong, 54gene’s founder, accuses the company’s largest investors, the Cathay AfricInves…