Regeneron to acquire 23andMe for US$256m after bankruptcy, a...

NEW YORK, May 20 -- Regeneron Pharmaceuticals yesterday said it will buy genetic testing company 23andMe out of bankruptcy for US$256 million, a deal that provides the US biotech company with data on millions of clients. New York-based Regeneron said it had been named the successful bidder in the bankruptcy auction for 23andMe, which has struggled with falling sales following a 2023 data breach that saw nearly seven million accounts affected. Regeneron CEO George Yancopoulos described his enterprise as "a science-driven, patient-focused biotechnology company that understands the power of genetic research to improve the lives of individuals," adding that the transaction will further "efforts to use large-scale genetics research to improve the way society treats and prevents illness overall." The companies said in a joint press release that Regeneron will detail its data safeguarding pr...