By Dean Seal
Regeneron Pharmaceuticals said it will acquire substantially all of 23andMe's assets for $256 million after coming out on top at a bankruptcy auction for the once-sizzling DNA-testing startup.
The Tarrytown, N.Y., based Regeneron said Monday that it intends to acquire 23andMe's signature Personal Genome Service, as well as its Total Health and Research Services business lines and its biobank of customers' genetic samples and data.
All of 23andME's consumer genome services are to continue uninterrupted, Regeneron said. The acquisition is expected to close in the third quarter.
23andMe's DNA-testing kits made a big splash years ago, leading to the company going public in 2021 and briefly seeing its valuation top $6 billion.
That valuation plummeted in the years that followed as the company failed to turn a profit and burned through cash. 23andMe filed for bankruptcy in March.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 19, 2025 07:40 ET (11:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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