From Yahoo Finance: 2025-05-19 09:00:00

Biotechnology company Regeneron Pharmaceuticals is acquiring 23andMe for $256 million after the genetic testing company filed for Chapter 11 bankruptcy protection. 23andMe co-founder and CEO Anne Wojcicki resigned, but remained a board member.

The proposed deal includes 23andMe’s personal genome service and total health and research services, excluding the Lemonaid Health subsidiary. Regeneron aims to further its health and wellness efforts while helping 23andMe fulfill its mission of DNA education and personal health improvement.

Regeneron plans to uphold 23andMe’s privacy policies and comply with applicable laws regarding customer data protection. The deal maximizes the business value, ensuring customer privacy, choice, and consent regarding their genetic information, while maintaining critical protections.

All 23andMe employees will be retained by Regeneron. As part of the sale process, bidders had to guarantee compliance with 23andMe’s privacy policies and laws. A court-appointed consumer privacy ombudsman will assess any privacy implications of the transaction.

A court hearing for approval of the transaction is set for June 17. The deal, subject to approval by the U.S. Bankruptcy Court, is expected to close in the third quarter. Regeneron’s shares saw a slight decline before the market opening.

Read more: Biotechnology company Regeneron buying 23andMe for $256 million