Regeneron buys 23andMe for $256m after bankruptcy

Regeneron Pharmaceuticals has bought the genetic testing company 23andMe, a company once valued at $6bn, for $256m through a bankruptcy auction. It added it would prioritise the ethical use of customers’ DNA data. The hack and subsequent bankruptcy filing have drawn scrutiny from lawmakers who warned that millions of customers’ genetic data could be sold to unscrupulous buyers. “Given Regeneron’s track record, we also believe 23andMe customers are in good hands from a privacy perspective,” Pickering added. After the transaction, expected to be completed in the third quarter, 23andMe will operate as a wholly owned unit of Regeneron.