23andMe To Be Sold in Bankruptcy
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The sale was for $256 million and is expected to be complete by the third quarter of this year, according to a Regeneron news release. Regeneron’s purchase does not include 23andMe’s Lemonaid Health business.
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Daily Voice Somerset County, NJ on MSNWestchester-Based Regeneron Buying Bankrupt 23andMe For $256M, Pledges To Protect DNA DataRegeneron Pharmaceuticals will acquire embattled DNA testing company 23andMe in a $256 million court-supervised sale, promising to honor existing privacy protections and continue consumer services with no changes.
What happened to 23andMe? Here's a look at its history from launch to bankruptcy and acquisition by Regeneron.
Regeneron is buying the assets of 23andMe, which filed for Chapter 11 bankruptcy in March after facing a series of hurdles including a data breach.
The DNA testing firm 23andMe says it has entered into an agreement to be acquired by Regeneron Pharmaceuticals for $256m (£192m). It comes two months after the company filed for bankruptcy protection in the US.