SAN FRANCISCO — Regeneron Pharmaceuticals, a NY-based, biotechnology company — is buying bankrupt 23andMe for $256 million. The agreement includes Regeneron’s commitment to comply with the Company’s privacy policies and applicable law, process all customer personal data in accordance with the consents, privacy policies and statements, terms of service, and notices currently in effect and have security controls in place designed to protect such data.
“We are pleased to have reached a transaction that maximizes the value of the business and enables the mission of 23andMe to live on, while maintaining critical protections around customer privacy, choice and consent with respect to their genetic data,” said Mark Jensen, Chair and member of the Special Committee of the Board of Directors of 23andMe. He added: “We are grateful to Regeneron for offering employment to all employees of the acquired business units, which will allow us to continue our mission of helping people access, understand and gain health benefits through greater understanding of the human genome.”
Anne Wojcicki, a co-founder and former CEO of 23andMe, is the ex-wife of Google founder Sergey Brin.
Under the terms of the agreement, Regeneron will acquire substantially all of the assets of the Company, including the Personal Genome Service (PGS), Total Health and Research Services business lines, for a purchase price of $256 million. The agreement does not include the purchase of the Company’s Lemonaid Health subsidiary, which the Company plans to wind down in an orderly manner.
“Regeneron is a science-driven, patient-focused biotechnology company that understands the power of genetic research to improve the lives of individuals, as well as the way society treats and prevents illness as a whole,” said George D. Yancopoulos, M.D. Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “When we opened our labs in New York State more than three decades ago, we bet our company’s future on the power of DNA, fueling our drug discovery efforts so as to deliver some of the world’s leading and most innovative medicines, including treatments to prevent blindness, for allergic diseases from asthma to atopic dermatitis, for several forms of cancer, and even for Ebola and COVID-19. Through our Regeneron Genetics Center, we have a proven track record of safeguarding personal genetic data, and we assure 23andMe customers that we will apply our high standards for safety and integrity to their data and ongoing consumer genetic services. We believe we can help 23andMe deliver and build upon its mission to help people learn about their own DNA and how to improve their personal health, while furthering Regeneron’s efforts to improve the health and wellness of many.”
As part of the Court-supervised sale process, 23andMe required all bidders to guarantee that they will comply with the Company’s privacy policies and applicable law. While the transaction aligns with 23andMe’s Privacy Statement, a Court-appointed, independent Consumer Privacy Ombudsman (“CPO”) will also conduct an examination of the transaction and the impact, if any, on consumers’ privacy if the transaction is approved, taking into account the privacy and security program of the proposed acquirer and present a report to the Court by June 10, 2025.
