Regeneron Pharmaceuticals to buy 23andMe and its data
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Regeneron Pharmaceuticals said it would acquire 23andMe, which filed for bankruptcy in March and would continue to offer consumer DNA testing services.
The company has signed up to pay $256 million for 23andMe and nearly all of its assets, including its R&D services operations as well as its biobank of collected samples. The deal, which is subject to court approval, does not cover 23andMe’s Lemonaid Health telemedicine and virtual pharmacy business.
The insolvent genetic analysis company 23andme is taken over by a pharmaceutical company that wants to continue the business and has promised data protection.
How exactly 23andMe will shake out after the Regeneron purchase is to be seen. The company has taken a dramatic fall in recent years, since going public. Hackers accessed the information of 6.9 million people in 2023 and 23andMe laid off over 200 people last year.