Regeneron Pharmaceuticals acquires 23andMe for $256 million in bankruptcy auction; advised to delete data.

From Yahoo Finance: 2025-05-19 11:25:00

Genetic data from 23andMe was acquired by Regeneron Pharmaceuticals for $256 million in a bankruptcy auction, including user and customer data. Regeneron must comply with privacy laws and policies. A third-party privacy ombudsman will verify the transaction. 23andMe faced a data breach in 2023 and merged with a SPAC in 2021.

Despite a data breach and bankruptcy filing, 23andMe users were advised to consider deleting their information. The deal is expected to close later this year, with 23andMe operating under Regeneron. Regeneron’s stock was down 1.1%. Users can delete their 23andMe data through their profile on the website.

Read more: 23andMe, including sensitive genetic data, sold to biotech company Regeneron Pharmaceuticals