Regeneron buying 23andMe
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The pharmaceutical giant plans to continue offering 23andMe’s DNA testing service and pledged to adopt its privacy practices to protect customer data.
Regeneron is buying the assets of 23andMe, which filed for Chapter 11 bankruptcy in March after facing a series of hurdles including a data breach.
Regeneron Pharmaceuticals said on Monday it will buy genetic testing firm 23andMe Holding for $256 million through a bankruptcy auction, and promised to prioritize the ethical use of customers' DNA data.
Bankrupt genetic-testing firm 23andMe agreed to sell its data bank, which once contained DNA samples from about 15 million people, to the drug developer Regeneron Pharmaceuticals for $256 million.
North Carolinians have a limited time to file claims against genetic testing company 23andMe for the 2023 data breach.
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Regeneron Pharmaceuticals is set to acquire substantially all assets of 23andMe for $256 million. The deal is expected to close in Q3 2025
Being spliced on to Regeneron will free the genetic testing company from its fatal dependence on sporadic revenue