Regeneron Pharmaceuticals is acquiring 23andMe for $256 million, two months after the genetic testing company sought Chapter 11 bankruptcy protection. The acquisition follows a period of uncertainty for 23andMe, including executive changes and challenges to its business model. Under Regeneron's ownership, the goal is to enhance users' understanding of their genetic information while adhering to existing privacy policies. Additionally, the deal does not encompass 23andMe's telehealth subsidiary, Lemonaid Health, which will be phased out. Regeneron emphasizes a commitment to safeguarding customer data during this transition.
Regeneron plans to enhance 23andMe's ability to help individuals understand their genetics while ensuring patient privacy and upholding existing data protections.
Following its Chapter 11 filing, 23andMe's mission remains intact as it enters an agreement with Regeneron to continue providing personalized genetic insights.
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