Regeneron Acquires Bankrupt 23andMe
Analysis based on 18 articles · First reported May 19, 2025 · Last updated May 20, 2025
The acquisition of 23andMe by Regeneron Pharmaceuticals for $256 million is a significant event for the biotechnology and pharmaceutical markets. It provides Regeneron Pharmaceuticals with a vast trove of genetic data for drug discovery, potentially boosting its research and development capabilities. For 23andMe, the acquisition offers a lifeline after bankruptcy, ensuring the continuation of its services and the ethical handling of customer data, which could restore some consumer confidence in the genetic testing industry.
Regeneron Pharmaceuticals announced its acquisition of genetic testing company 23andMe for $256 million following a bankruptcy auction. 23andMe had filed for Chapter 11 bankruptcy in March 2025 after a significant data breach in 2023 exposed the private and genetic data of nearly 7 million customers, leading to a plummet in its stock price and waning consumer interest. Anne Wojcicki, 23andMe's co-founder and CEO, resigned from her post. Regeneron Pharmaceuticals plans to utilize 23andMe's genomics service and its bank of 15 million customers' data for drug discovery, while committing to prioritize privacy, security, and ethical use of the data. The deal, which excludes 23andMe's Lemonaid Health business, is pending approval from the United States — United States Bankruptcy Court for the Eastern District of Missouri and is expected to close in the third quarter of 2025. Concerns about the sale of sensitive customer data to unethical buyers were raised, prompting the United States — California Attorney General to urge customers to delete their data. Regeneron Pharmaceuticals has pledged to comply with 23andMe's privacy policies and applicable laws, and a court-appointed ombudsman will review the transaction's impact on consumer privacy.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard