Regeneron Pharmaceuticals to buy 23andMe and its data for $256 million

Regeneron Pharmaceuticals on Monday announced it will acquire "substantially all" of 23andMe's assets for $256 million. The drugmaker participated in a bankruptcy auction for 23andMe, a once high-flying genetic testing company that filed for for Chapter 11 bankruptcy protection in March. Regeneron is buying 23andMe's Personal Genome Service, Total Health and Research Services business lines, according to a release. "We believe we can help 23andMe deliver and build upon its mission to help people learn about their own DNA and how to improve their personal health, while furthering Regeneron's efforts to improve the health and wellness of many," Dr. George Yancopoulos, Regeneron's president, said in a statement. Regeneron will not buy the company's telehealth subsidiary, Lemonaid Health, which 23andMe had acquired for around $400 million in 2021. Lemonaid Health will be shut down, but Regeneron has offered to employ all staffers of the acquired business units, according to the release. ... Read full article.