Regeneron Pharmaceuticals to Acquire 23andMe from Bankruptcy
Regeneron Pharmaceuticals announced on Monday its intention to purchase 23andMe for $256 million as the company emerges from bankruptcy.
This acquisition includes 23andMe’s personal genomic service, Total Health and Research Services, along with a substantial biobank that holds genetic data from over 15 million customers.
All genetic testing services provided by 23andMe will remain active, with the deal expected to finalize as bankruptcy courts and regulatory permissions are anticipated by the third quarter of 2025.
Located in Tarrytown, New York, Regeneron has committed to adhering to 23andMe’s consumer privacy policies, promising cooperation with an ombudsman appointed by the court to investigate related matters.
“We’ve been diligently working to secure funding,” commented Aris Baras, director of the Center for Genetics at Regeneron.
This acquisition represents an extraordinary array of genetic data that has accumulated since 23andMe initiated its direct-to-consumer testing in 2007.
Once celebrated in Silicon Valley, the company’s value peaked over $6 billion following its 2021 release but plummeted to around $50 million, partly due to a hefty $30 million settlement tied to data breaches affecting nearly seven million users.
Amidst its bankruptcy filing in March, California Attorney General Rob Bonta advised customers to delete their data from 23andMe’s database and requested that the company destroy the samples before the transition of assets.
Users can manage their 23andMe account settings to view and eliminate data, withdraw consent for research, and adjust preferences regarding the destruction of stored saliva samples.
Anne Wojcicki, CEO of 23andMe, announced her resignation on the day the company filed for bankruptcy, following months of internal conflict with the board about plans to privatize the firm.
Seven of the company’s independent board members stepped down in September after attributing blame to Wojcicki, who co-founded 23andMe in 2006 and holds a Yale biology degree.
Beyond her role at 23andMe, Wojcicki gained attention for her relationships, having been married to Google co-founder Sergey Brin for eight years before their divorce in 2015, and also dating former Yankees player Alex Rodriguez from 2016 to 2017.
