From Yahoo Finance: 2025-05-19 12:24:00

Biotech Regeneron acquires bankrupt genetics company 23andMe for $256m, gaining assets like Personal Genome Service and Health Services. Lemonaid Health, a telehealth subsidiary, will be wound down. Approval for the sale is set for June 17, expecting to close in Q3 2025. Wall Street reacts tepidly, with Regeneron shares down 1%.

23andMe, once a pioneer in genetic services, faced financial struggles diversifying beyond DNA testing. Co-founder Anne Wojcicki’s attempts to take the company private were unsuccessful, leading to bankruptcy. The company holds vast genetic data from 15 million customers, with a significant data breach in 2023. Regeneron plans to continue 23andMe’s consumer genome services.

Regeneron reassures customers of adhering to 23andMe’s privacy policies. The acquisition will operate 23andMe as a wholly owned subsidiary, offering employment to acquired business units. Regeneron’s chief scientific officer sees a future in helping 23andMe fulfill its mission of improving personal health through genetics research.

Read more: Regeneron buys bankrupt 23andMe for $256m