23andMe Holding Co. has officially announced a definitive agreement for its sale to Regeneron Pharmaceuticals, a prominent U.S.-based biotechnology firm. The deal comes at a price of $256 million and includes Regeneron’s promise to adhere to 23andMe’s existing privacy policies, ensuring all personal data is managed securely and in compliance with applicable laws. Regeneron’s commitment to maintaining privacy is seen as critical in the evolving landscape of genetic data management.
Mark Jensen, the Chair of 23andMe’s Board, noted the significance of this transaction in preserving the company’s mission to empower individuals through genetic understanding while assuring consumers that their personal data will be protected. Regeneron’s leadership, including co-founder George D. Yancopoulos, emphasized the company’s longstanding dedication to genetics and its capability to translate scientific research into effective medical treatments.
As part of the acquisition, Regeneron will take over nearly all 23andMe assets, explicitly excluding the Lemonaid Health subsidiary, which will be phased out under the terms of the agreement. This transition is part of a court-supervised process amid 23andMe’s ongoing Chapter 11 proceedings, highlighting the structured approach to ensure consumer protection and business continuity.
The court is set to consider the approval of this transaction, with a hearing scheduled for June 17, 2025. Following approval, the completion of the sale is expected by the third quarter of 2025, facilitating a new chapter for 23andMe under Regeneron’s stewardship.
This acquisition not only aims to secure the future of 23andMe but also enhances Regeneron’s portfolio in genetic medicine, further enabling the company to leverage data-driven insights to create groundbreaking therapies.
Overall, this transaction symbolizes a hopeful turning point for 23andMe, ensuring that its mission can continue while reinforcing robust protections for consumer privacy in an increasingly data-driven world.