In a $256 million deal to buy the assets of the bankrupt 23andMe Holding Co., Regeneron announced Monday that it will “prioritize the privacy, security, and ethical use” of the personal DNA data of roughly 15 million people.
As required of all bids in the bankruptcy auction for 23andMe, Regeneron, a biotechnology company based in Westchester, New York, promised to collaborate with an impartial, court-appointed customer-privacy ombudsman to safeguard clients.
After the deal closes as anticipated in the third quarter of this year, Regeneron stated that it will continue to provide 23andMe’s consumer genome services, including the ability to connect with living relatives using shared DNA, without interruption.
On Monday, the company’s stock (REGN) dropped 0/8%.
The agreement comes just a few months after 23andME pledged to protect its wealth of genetic data when it filed for bankruptcy in the Eastern District of Missouri in March.
The consumer-privacy ombudsman will report on any possible effects on client information security as part of the transaction on June 10. Updates on 23andMe’s bankruptcy procedures can be found here.
George D. Yancopoulos, president and co-chair of Regeneron, stated that the company has a track record of safeguarding genetic data at its genetics department, which it utilizes to find genes linked to particular diseases.
“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,” Yancopoulos said in a press release.
On June 17, the bankruptcy court is expected to examine and perhaps approve the deal.
In a deal worth $3.5 billion at the time, 23andMe Holding Co. went public in 2021 by merging with a SPAC established by British entrepreneur Richard Branson.
In its most recent quarter, Regeneron, a company that creates novel medications, generated $3.7 billion in sales of its anti-inflammatory medication Dupixent, which is used to treat dermatitis, asthma, and chronic obstructive pulmonary disease. Eylea, which it created with Bayer, is another product it produces.
Prior to Monday’s actions, the S&P 500 SPX has increased 1.3% in 2025, while Regeneron’s shares has decreased 16.6%.
