Regeneron Acquires 23andMe Assets Amid Bankruptcy

Regeneron Pharmaceuticals has declared its intention to acquire nearly all of the assets belonging to 23andMe, a genetic testing firm, following a court-supervised auction. The company has agreed to pay $256 million for these assets, with the auction occurring as part of 23andMe’s Chapter 11 bankruptcy protection filing from March.

During the bankruptcy process, 23andMe estimated its assets might be valued between $100 million and $500 million, with similar figures for its liabilities.

The acquisition agreement is expected to conclude in the third quarter of 2025, pending court approval in mid-June.

Regeneron stated it will purchase 23andMe’s personal genomic services along with its total health and research services. They mentioned that measures would be in place to protect customer personal data according to existing privacy policies and applicable laws.

“Through the Regeneron Genetics Center, we have established a strong record in safeguarding individual genetic information,” the company assured, indicating a commitment to high safety standards for 23andMe’s customers.

The consumer privacy ombudsman, appointed by the court, has submitted a report that will be considered during this purchase process, highlighting its potential impacts on consumer privacy.

Regeneron aims to integrate 23andMe as a fully owned or indirect subsidiary while preserving personal genomics services. Mark Jensen of 23andMe expressed satisfaction with the transaction, noting it supports the company’s mission and maintains essential protections for customer privacy.

It’s worth mentioning that 23andMe’s Lemonaid Health, its telehealth subsidiary, will be closed as part of the restructuring following this acquisition.