Regeneron Pharmaceuticals announced it has been "named the successful bidder" in the defunct 23andMe's bankruptcy auction. It will acquire 23andMe's core business lines—including Personal Genome Service, Total Health and Research Services, and Biobank—for $256 million.
New York-based Regeneron revealed that the $256 million deal to acquire 23andMe's gigantic pool of genetic data (estimated to include 15 million people) will close by the third quarter of this year.
"Regeneron was one of the first biotech companies to bet its future on the power of DNA, fueling our drug discovery efforts so as to deliver some of the world's leading and most innovative medicines, including treatments to prevent blindness, for allergic diseases from asthma to atopic dermatitis, for several forms of cancer, and even for Ebola and COVID-19," stated George D. Yancopoulos, M.D. Ph.D., co-founder, Board co-chair, President, and Chief Scientific Officer of Regeneron.
