Regeneron Pharmaceuticals has secured a $256 million acquisition of 23andMe through a bankruptcy auction. This deal includes most assets, emphasizing a commitment to customer data privacy. Regeneron must comply with existing privacy laws and 23andMe's policies as part of the sale. The court-appointed consumer privacy ombudsman will assess the deal due to the sensitive nature of genetic information involved. The acquisition aims to protect user privacy while aiming to maximize the value of 23andMe's business and mission.
The agreement includes Regeneron's commitment to comply with the Company's privacy policies and applicable law, process all customer personal data in accordance with the consents, privacy policies and statements, terms of service, and notices currently in effect and have security controls in place designed to protect such data.
We are pleased to have reached a transaction that maximizes the value of the business and enables the mission of 23andMe to live on, while maintaining critical protections around customer privacy, choice and consent with respect to their genetic data.
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