Regeneron Pharmaceuticals has emerged as the successful bidder in the bankruptcy auction for the majority of assets owned by 23andMe Holding, a human genetics and biotechnology firm, for $256m.
Regeneron plans to acquire 23andMe’s Personal Genome Service, Total Health, and Research Services divisions, as well as its Biobank and related assets.
The acquisition aims to maintain uninterrupted consumer genome services offered by 23andMe. The transaction, pending approval from bankruptcy court and regulatory bodies, along with other customary closing conditions, is anticipated to conclude in the third quarter of 2025.
Regeneron co-founder, board co-chair, president and chief scientific officer George Yancopoulos said: “We have deep experience with large-scale data management, having worked with collaborators around the world to link deidentified DNA sequences from nearly three million consented participants to electronic health records, safely and securely enabling future medical advances.
“We believe we can help 23andMe deliver and build upon its mission to help those interested in learning about their own DNA and how to improve their personal health, while furthering Regeneron’s efforts to use large-scale genetics research to improve the way society treats and prevents illness overall.”
Regeneron is committed to adhering to 23andMe’s consumer privacy policies and relevant legal requirements concerning customer data.
As the successful bidder, Regeneron is ready to present its plans for customer data usage and the privacy measures and security protocols in place. These will be subject to review by a court-appointed independent Customer Privacy Ombudsman and other stakeholders.
Following the acquisition, 23andMe will operate as a wholly owned subsidiary of Regeneron Pharmaceuticals, continuing its role as a personal genomics service provider.
The acquisition does not include 23andMe’s Lemonaid Health business. Further details regarding the operational plans for 23andMe will be disclosed upon the transaction’s closure.
23andMe interim CEO Joe Selsavage said: “We are pleased to reach an agreement with a science-driven partner that maintains our team and helps ensure our mission will carry forward.
“With the support of Regeneron and their deep experience in genetic sequencing, testing and discovery, we look forward to continuing to help people access and understand the human genome for the benefit of customers and patients.”
Wachtell, Lipton, Rosen & Katz serves as Regeneron’s legal advisor for the transaction.
