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It will acquire genetic data of more than 15 million customers – raising privacy concerns from individuals who had willingly handed over the samples to completely different owners.
Genetic testing company 23andMe filed for Chapter 11 bankruptcy protection in March. Regeneron Pharmaceuticals announced it would buy "substantially all" of 23andMe's assets.
Pharmaceutical maker Regeneron announced Monday it will buy genetic testing company 23andMe for $256 million following a bankruptcy auction.
Jim Camer breaks down why he's keeping an eye on shares of Regeneron.
Regeneron Pharmaceuticals is acquiring "substantially all" of 23andMe's assets for $256 million following a bankruptcy auction. The drugmaker is buying 23andMe's Personal Genome Service, Total Health and Research Services business lines, but not its telehealth subsidiary Lemonaid Health.
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) has agreed to buy genetic testing company 23andMe for $256 million, two months after the biotech firm filed for Chapter 11 bankruptcy. The deal includes 23andMe's consumer DNA testing and health research services, but excludes its telehealth arm, Lemonaid Health, which is being shut down.
Regeneron said it will continue uninterrupted service of 23andMe's consumer genome services — such as connecting with living relatives with shared DNA — after its purchase closes as expected in the third quarter of this year.
Regeneron Pharmaceuticals said it will acquire substantially all of 23andMe's assets for $256 million after coming out on top at a bankruptcy auction for the once-sizzling DNA-testing startup.
Drugmaker Regeneron Pharmaceuticals will buy genetic testing firm 23andMe Holding for $256 million through a bankruptcy auction, the companies said on Monday.
Purchase is subject to bankruptcy court and regulatory approvals Regeneron will prioritize the privacy, security and ethical use of 23andMe's customer data; stands ready to work with independent, court-appointed Customer Privacy Ombudsman Planned purchase to strengthen Regeneron's ongoing leadership in genetics-guided research and drug development to help people with serious diseases TARRYTOWN, N.Y., May 19, 2025 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced it has been named the successful bidder in the bankruptcy auction for substantially all of the assets of 23andMe Holding Co., a leading human genetics and biotechnology company.