Regeneron to buy 23andMe out of bankruptcy for $256 million

23andMe files for bankruptcy

What 23andMe customers should cognize aft institution files for bankruptcy 02:26

Regeneron has agreed to bargain 23andMe, the erstwhile buzzy familial investigating company, retired of bankruptcy for $256 cardinal nether a court-supervised merchantability process.

23andMe declared bankruptcy successful March and announced it would question a buyer, portion besides saying that co-founder and CEO Anne Wojcicki would resign. 

Under the projected statement with Regeneron, the Tarrytown, New York, drugmaker volition get 23andMe's assets, including its idiosyncratic genome work and full wellness and probe services. Regeneron said Monday that it volition abide by 23andMe's privateness policies and applicable instrumentality to support lawsuit data. 

Data privateness experts had raised concerns astir 23andMe's storehouse of information for astir 15 cardinal customers, including their DNA. 

23andMe's consumer-genome services volition proceed interrupted, the purchaser said. Regeneron volition not get 23andMe's Lemonaid Health telehealth business.

"We person heavy acquisition with large-scale information management," Regeneron co-founder George Yancopoulos said successful a statement. The institution "has a proven way grounds of safeguarding the familial information of radical crossed the globe, and, with their consent, utilizing this information to prosecute discoveries that payment subject and society."

23andMe offers user services that supply customers with accusation connected their ancestry and familial wellness profile, including the hazard of passing connected definite conditions to their children. It besides has a therapeutics limb that researches and develops treatments for cancers, immune diseases and different conditions.

"We are pleased to scope an statement with a science-driven spouse that maintains our squad and helps guarantee our ngo volition transportation forward," 23andMe interim CEO Joe Selsavage said successful a statement. "With the enactment of Regeneron and their heavy acquisition successful familial sequencing, investigating and discovery, we look guardant to continuing to assistance radical entree and recognize the quality genome for the payment of customers and patients." 

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