Overview

• Regeneron Pharmaceuticals has agreed to purchase 23andMe’s core assets, including its genetic testing and research services, for $256 million as part of a bankruptcy court-supervised sale.
• The transaction excludes 23andMe’s Lemonaid Health telehealth subsidiary, which will be wound down.
• Regeneron has committed to adhering to 23andMe’s existing privacy policies and applicable laws, with an independent ombudsman appointed to oversee data protection compliance.
• The deal is pending approval from the U.S. Bankruptcy Court for the Eastern District of Missouri, with a hearing scheduled for June 17 and an expected close in the third quarter of 2025.
• 23andMe, which filed for Chapter 11 bankruptcy in March, faced financial struggles after a 2023 data breach, failed privatization efforts, and declining demand for its services.