Regeneron Acquires 23andMe Assets for $256 Million After Bankruptcy

Regeneron Pharmaceuticals has agreed to acquire substantially all assets of the genetic testing company 23andMe for $256 million following a bankruptcy auction, with the deal expected to close in the third quarter. The acquisition includes 23andMe's Personal Genome Service, Total Health and Research Services, and its biobank of genetic samples, which Regeneron plans to integrate while maintaining uninterrupted consumer genome services. Regeneron's CEO George Yancopoulos emphasized the company's commitment to DNA-driven innovation and the potential of this acquisition to advance disease treatment and prevention through large-scale genetics research. 23andMe had filed for Chapter 11 bankruptcy earlier in the year amid financial struggles and privacy concerns, and Regeneron must comply with 23andMe's privacy policies and applicable laws regarding customer genetic data. The purchase aligns with Regeneron's focus on precision medicine and leveraging genetic data for drug discovery, while 23andMe's interim CEO highlighted Regeneron's sequencing expertise as key to continuing their mission. Lawmakers and the Federal Trade Commission have expressed concerns about consumer genetic data privacy during the sale process, with a privacy ombudsman set to present a report to the court.