Regeneron Pharmaceuticals has announced its acquisition of 23andMe for $256 million, shortly after the genetic testing company filed for Chapter 11 bankruptcy. The acquisition comes as 23andMe has struggled to establish a sustainable business model since going public in 2021 and faced privacy concerns, especially after a data breach in 2023. Regeneron plans to maintain 23andMe's services while adhering to existing privacy policies for customer data. The purchase excludes the Lemonaid Health telehealth subsidiary, which 23andMe will discontinue. Regeneron's leadership emphasized their goal to enhance 23andMe's mission of educating users about their DNA and health.
Regeneron is acquiring 23andMe for $256 million post-bankruptcy, aiming to support its mission while assuring customer privacy and data protection.
The deal includes 23andMe's genome service but excludes its telehealth subsidiary, with Regeneron committing to uphold privacy policies and data protections.
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