23andMe Snapped Up in $256M Biotech Bankruptcy Deal

• Regeneron Pharmaceuticals Inc. (REGN) will acquire 23andMe’s genetic testing assets, including its Personal Genome Service and biobank, for $256 million, with the deal set to close in the third quarter, though shares fell nearly 1% to $589.00 in early trading.
• The acquisition strengthens Regeneron’s genetic research capabilities, aligning with its focus on DNA-driven drug discovery, while maintaining 23andMe’s consumer genome services uninterrupted.
• Regeneron’s CEO George Yancopoulos emphasized the deal’s potential to advance disease treatment and prevention, with 23andMe’s Interim CEO Joe Selsavage noting Regeneron’s sequencing expertise as key to continuing their mission.

Regeneron Pharmaceuticals Inc. (REGN) has agreed to acquire substantially all assets of DNA-testing company 23andMe for $256 million following a bankruptcy auction, a move that aligns with its long-standing focus on leveraging genetic data for medical advancements, though its shares dipped nearly 1% to $589.00 in early trading on Monday. The acquisition includes 23andMe’s Personal Genome Service, Total Health and Research Services, and its biobank of genetic samples, which Regeneron plans to integrate while maintaining uninterrupted consumer genome services, with the deal expected to close in the third quarter. Chief Executive George Yancopoulos emphasized Regeneron’s early commitment to DNA-driven innovation, stating the acquisition will enhance efforts to improve disease treatment and prevention through large-scale genetics research, while 23andMe’s Interim CEO Joe Selsavage highlighted Regeneron’s expertise in genetic sequencing as key to advancing their mission of empowering consumers with genomic insights.

This strategic acquisition positions Regeneron to bolster its research capabilities in precision medicine, a field increasingly critical as biopharma companies seek to develop targeted therapies using vast genetic datasets. The biobank and research services from 23andMe, which has amassed millions of genetic profiles, could accelerate Regeneron’s drug discovery pipeline, particularly in areas like oncology and rare diseases where it already has a strong presence. The deal reflects broader industry trends, with biotech firms investing heavily in genomic data to drive innovation, though investor caution, as evidenced by the share price dip, may stem from uncertainties about integration costs or near-term financial impacts. Regeneron’s commitment to preserving 23andMe’s consumer-facing services also suggests a dual focus on research and commercial opportunities, potentially expanding its footprint in personalized health solutions.

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