Pharma giant Regeneron to buy 23andMe and its customers’ data for $256M

Pharmaceutical giant Regeneron has announced its $256 million buyout of 23andMe, a genetics company that faced bankruptcy after a massive data breach exposing personal genetic and private data of millions of customers in 2023. The deal includes using 23andMe’s customer data to aid drug discovery while prioritizing the privacy, security, and ethical use of such sensitive information. Regeneron confirmed its role as the winning bidder during a bankruptcy auction following 23andMe’s collapse, which was triggered by the company’s resignation of CEO Anne Wojcicki in early 2023 due to the data breach.