Regeneron Pharmaceuticals has acquired assets from 23andMe for $256 million, winning the bid during the company's Chapter 11 bankruptcy auction. This acquisition includes significant components such as the Personal Genome Service and Biobank, allowing Regeneron to bolster its genetic research efforts. Co-founder Anne Wojcicki attempted to privatize 23andMe but faced challenges, leading to the bankruptcy. Regeneron commits to complying with privacy policies and will outline its intention for customer data use under supervision of a Customer Privacy Ombudsman.
Regeneron's acquisition of 23andMe assets for $256 million will enhance their genetic data capabilities, ensuring continued operations of 23andMe's consumer genome services.
Despite six bidders, Regeneron's winning bid in the 23andMe auction allows them access to services like the Personal Genome Service and the Biobank.
Regeneron aims to utilize 23andMeâs genetic data while adhering to consumer privacy policies and laws, seeking review from a Customer Privacy Ombudsman.
23andMe co-founder Anne Wojcicki's efforts to take the company private were unsuccessful, leading to the bankruptcy auction won by Regeneron.
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