Following a significant data breach and bankruptcy, genetic testing service 23andMe is set to be acquired by biotechnology company Regeneron for $256 million. The acquisition, aimed at closing by the third quarter of 2025, will allow 23andMe to maintain its operations while under the new ownership. The breach exposed sensitive data from 5.5 million users, leading to class action lawsuits. Amid declining sales and growing privacy concerns, this acquisition raises questions about the safeguarding of genetic data in the future.
The deal comes at a rocky time for 23andMe. In late 2023, the company revealed that it had been hit by a data breach that compromised around 14,000 accounts.
With the suits proving successful, affected customers can now file a claim to collect their portion of the overall $30 million penalty.
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