A view of the 23ndme headquarters in Sunnyvale, California, on March 25, 2025.
Tayfun Coskun | Anadolu | Getty images
Regeneron Pharmaceuticals On Monday, he announced that he will acquire “substantially all” of the 23Andme assets for $ 256 million.
The drug manufacturer participated in a bankruptcy auction for 23Andme, a high -flight genetic test company that requested the bankruptcy protection of chapter 11 in March. Regeneron is buying the 23Andme personal genome service, the commercial lines of health services and total research, according to a statement.
“We believe that we can help me to deliver and develop their mission to help people learn about their own DNA and how to improve their personal health, while promoting Regeneon's efforts to improve the health and well -being of many,” said Dr. George Yancopoulos, president of Regeneron, in a statement.
Regeneron will not buy the company's telesalud subsidiary, Lemonaid Health, which 23Andme had acquired for about $ 400 million in 2021. Lemonoid Health will close, but regenech has offered to use all employees of the acquired business units, according to the statement.
The agreement is still subject to the approval of the United States Banking Court for the Eastern District of Missouri. Waiting for approval, it is expected to close in the third quarter of this year, according to the statement.
23Andme shot in the mainstream due to their DNA test kits in the home that gave customers an idea of their family stories and genetic profiles. The five -time company CNB Disruptor 50 was made public in 2021 through a fusion with a special purpose acquisition company. At its peak, 23Andme was valued at around $ 6 billion.
The company struggled to generate recurring income and defend the viable research and therapeutic businesses after becoming public, and has been plagued with privacy concerns since the computer pirates agreed to the information of almost 7 million customers in 2023.
In their bankruptcy procedures, 23Andme required that all bidders comply with their privacy policies, and a “defender of the people of consumer privacy” appointed by the court will evaluate the agreement, the companies said.
Several legislators and officials, including the Federal Commerce Commission, had expressed concern for the safety of consumer genetic data through the 23Andme sales process. The Defender of the Pivacy People will present a report on the acquisition of the court before June 10.
“We are pleased to have reached a transaction that maximizes the value of the business and allows you to live the mission of 23Andme, while maintaining critical protections around the privacy of the client, the choice and consent with respect to its genetic data,” said Mark Jensen, president of the Board of 23ndme, in a statement.
Clock: Within the fall of 23Andme
