Overview

• Regeneron Pharmaceuticals emerged as the winning bidder for 23andMe's assets in a bankruptcy auction, agreeing to a $256 million acquisition.
• The deal includes 23andMe's consumer genomics and research services but excludes its telehealth subsidiary, Lemonaid Health, which will be wound down.
• Regeneron has pledged to uphold 23andMe's existing privacy policies and comply with applicable laws to protect the genetic data of 15 million customers.
• A court-appointed consumer privacy ombudsman will review the transaction's implications for data privacy, with a report due by June 10 and a court hearing set for June 17.
• The acquisition is expected to close in the third quarter of 2025, pending U.S. Bankruptcy Court and regulatory approvals.