Genetic Data From 23andMe Ends Up With This Company In $256 Million Deal
Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) announced Monday that it has secured the winning bid in the bankruptcy auction for key assets of 23andMe Holding Co. in a $256 million deal to boost its genetics-based drug discovery efforts.
The acquisition includes 23andMe's Personal Genome Service, Total Health, Research Services divisions, its Biobank, and associated infrastructure. Regeneron plans to keep consumer services running without disruption and expects the transaction to close in the third quarter of 2025.
Regeneron pledged to uphold 23andMe's privacy policies to address concerns over data use and comply with all applicable regulations. A court-appointed Customer Privacy Ombudsman will review the intended data use and oversee privacy safeguards throughout the process.George D. Yancopoulos, Regeneron's co-founder and chief scientific officer, emphasized the company's long-term commitment to leveraging DNA in drug development.
He noted that Regeneron has already partnered globally to match de-identified genetic information from nearly three million participants with electronic health records, accelerating breakthroughs in treatments for cancer, infectious diseases, and immune disorders.
Aris Baras, head of the Regeneron Genetics Center, reaffirmed the company's focus on ethical data use and scientific advancement. He said the acquisition supports Regeneron's vision of utilizing large-scale genomic research to improve human health.
Following completion, 23andMe will become a wholly owned subsidiary of Regeneron. The transaction does not include the company's Lemonaid Health division.
Regeneron held Cash and marketable securities of $17.625 billion as of March 31, 2025.
Price Action: REGN shares traded lower by 0.66% to $590.40 at the last check Monday.
Photo by Michael Vi via Shutterstock
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This article Genetic Data From 23andMe Ends Up With This Company In $256 Million Deal originally appeared on Benzinga.com
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