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Economic Times
19-05-2025
- Business
- Economic Times
Regeneron to rescue 23andMe from bankruptcy in $256 million deal — but who really owns your genetic data now and what happens to your DNA privacy?
What does this acquisition mean for your genetic privacy and data ownership? How did 23andMe fall from a $6 billion valuation to bankruptcy? Live Events Who's in charge now and what happened to anne wojcicki? Will 23andme continue offering its DNA testing services? What happens next and when will the deal close? Should you be worried about your DNA privacy? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Regeneron buys 23andMe for $256 million — but at what cost to consumer DNA privacy? In a move that's sparking both excitement and concern, Regeneron Pharmaceuticals has announced it will acquire 23andMe for $256 million following the genetic testing company's bankruptcy filing. The deal includes 23andMe's Personal Genome Service, Total Health and Research Services, and its massive genetic data biobank built from over 15 million the consumer side of the business will stay active, the acquisition is raising big questions: Who owns your DNA now? What will happen to your genetic information? And after a major data breach just last year, can consumers really trust that their most sensitive data is safe?Regeneron, based in Tarrytown, New York, has promised to honor 23andMe's existing privacy policies and legal obligations. The company says it has experience handling anonymized genetic data from about 3 million research participants. Still, many customers are worried about who controls their genetic blueprint now that 23andMe is under new than just a medical record, your DNA contains personal and family information that could affect not just you, but your relatives too. Privacy advocates say these kinds of mergers need more transparency, especially when sensitive biological data is part of the a few years ago, 23andMe was flying high. After going public in 2021 through a $3.5 billion SPAC deal, the company was once valued at $6 billion. But heavy investments into biotech and telehealth, paired with declining consumer interest, dragged it down came the biggest hit: a massive data breach in 2023 that exposed the personal information of nearly 7 million users over five months. The fallout was costly — the company agreed to a $30 million settlement after lawsuits began piling the time 23andMe filed for Chapter 11 bankruptcy in March 2025, it had $2.3 billion in debt and just $126 million in cash left. The crisis forced the company to lay off 200 employees, shut down drug development, and prepare for major Wojcicki, the co-founder and longtime CEO of 23andMe, resigned when the company filed for bankruptcy earlier this year. She had been trying to buy the company back privately since April 2024, but her offers were rejected by the board. Her last bid — 41 cents per share — valued the company at just $11 reportedly leaned on her network, including her ex-husband and Google co-founder Sergey Brin, to attract early funding for 23andMe. For now, Joe Selsavage, the company's CFO, will take over as interim CEO. But Wojcicki has posted on X that she may try to make another offer in the future, although no details have been shared despite the acquisition, 23andMe's direct-to-consumer DNA testing kits and health insights will still be available. Regeneron has confirmed that existing services won't be interrupted. The new parent company sees 23andMe's genetic data as a valuable resource for drug discovery and personalized deal gives Regeneron access to one of the largest collections of consumer DNA samples in the world, helping the company push forward in developing new therapies and expanding its health and wellness strategy. According to Regeneron, the move will 'preserve 23andMe's mission' under better financial next step is a bankruptcy court hearing scheduled for June 17, where the sale is expected to be approved. If all goes as planned, the deal should be finalized by Q3 investors are watching closely. Following the announcement, Regeneron's stock fell 0.8% and is currently down 16.6% for the year, according to MarketWatch. The public response has been cautious, especially given the controversies surrounding 23andMe in recent you're already a 23andMe customer or thinking of using a DNA testing service, it's important to read the privacy policies carefully. Even though Regeneron says it will stick to the rules, mergers like this can sometimes lead to changes in how your data is stored, used, or data isn't like other personal data — it's permanent, uniquely identifiable, and often shared across families. And once it's compromised, it can't be changed like a password. That's why consumers, lawmakers, and privacy groups are calling for stronger regulations on how companies handle this sensitive says it will follow 23andMe's existing privacy losses, a data breach, and failed biotech efforts led to it.
Time of India
19-05-2025
- Business
- Time of India
Regeneron to rescue 23andMe from bankruptcy in $256 million deal — but who really owns your genetic data now and what happens to your DNA privacy?
What does this acquisition mean for your genetic privacy and data ownership? How did 23andMe fall from a $6 billion valuation to bankruptcy? Live Events Who's in charge now and what happened to anne wojcicki? Will 23andme continue offering its DNA testing services? What happens next and when will the deal close? Should you be worried about your DNA privacy? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Regeneron buys 23andMe for $256 million — but at what cost to consumer DNA privacy? In a move that's sparking both excitement and concern, Regeneron Pharmaceuticals has announced it will acquire 23andMe for $256 million following the genetic testing company's bankruptcy filing. The deal includes 23andMe's Personal Genome Service, Total Health and Research Services, and its massive genetic data biobank built from over 15 million the consumer side of the business will stay active, the acquisition is raising big questions: Who owns your DNA now? What will happen to your genetic information? And after a major data breach just last year, can consumers really trust that their most sensitive data is safe?Regeneron, based in Tarrytown, New York, has promised to honor 23andMe's existing privacy policies and legal obligations. The company says it has experience handling anonymized genetic data from about 3 million research participants. Still, many customers are worried about who controls their genetic blueprint now that 23andMe is under new than just a medical record, your DNA contains personal and family information that could affect not just you, but your relatives too. Privacy advocates say these kinds of mergers need more transparency, especially when sensitive biological data is part of the a few years ago, 23andMe was flying high. After going public in 2021 through a $3.5 billion SPAC deal, the company was once valued at $6 billion. But heavy investments into biotech and telehealth, paired with declining consumer interest, dragged it down came the biggest hit: a massive data breach in 2023 that exposed the personal information of nearly 7 million users over five months. The fallout was costly — the company agreed to a $30 million settlement after lawsuits began piling the time 23andMe filed for Chapter 11 bankruptcy in March 2025, it had $2.3 billion in debt and just $126 million in cash left. The crisis forced the company to lay off 200 employees, shut down drug development, and prepare for major Wojcicki, the co-founder and longtime CEO of 23andMe, resigned when the company filed for bankruptcy earlier this year. She had been trying to buy the company back privately since April 2024, but her offers were rejected by the board. Her last bid — 41 cents per share — valued the company at just $11 reportedly leaned on her network, including her ex-husband and Google co-founder Sergey Brin, to attract early funding for 23andMe. For now, Joe Selsavage, the company's CFO, will take over as interim CEO. But Wojcicki has posted on X that she may try to make another offer in the future, although no details have been shared despite the acquisition, 23andMe's direct-to-consumer DNA testing kits and health insights will still be available. Regeneron has confirmed that existing services won't be interrupted. The new parent company sees 23andMe's genetic data as a valuable resource for drug discovery and personalized deal gives Regeneron access to one of the largest collections of consumer DNA samples in the world, helping the company push forward in developing new therapies and expanding its health and wellness strategy. According to Regeneron, the move will 'preserve 23andMe's mission' under better financial next step is a bankruptcy court hearing scheduled for June 17, where the sale is expected to be approved. If all goes as planned, the deal should be finalized by Q3 investors are watching closely. Following the announcement, Regeneron's stock fell 0.8% and is currently down 16.6% for the year, according to MarketWatch. The public response has been cautious, especially given the controversies surrounding 23andMe in recent you're already a 23andMe customer or thinking of using a DNA testing service, it's important to read the privacy policies carefully. Even though Regeneron says it will stick to the rules, mergers like this can sometimes lead to changes in how your data is stored, used, or data isn't like other personal data — it's permanent, uniquely identifiable, and often shared across families. And once it's compromised, it can't be changed like a password. That's why consumers, lawmakers, and privacy groups are calling for stronger regulations on how companies handle this sensitive says it will follow 23andMe's existing privacy losses, a data breach, and failed biotech efforts led to it.
