The biotech industry, Regeneron Pharmaceuticals has officially agreed to purchase the majority of 23andMe’s assets for $256 million. The once high-flying genetic testing company filed for Chapter 11 bankruptcy in March 2025, marking a major pivot in its turbulent journey from a $6 billion valuation in 2021 to its dramatic downfall. This acquisition is set to reshape the landscape of personalized medicine, data-driven healthcare, and the future of consumer genetics.
Founded by Anne Wojcicki, 23andMe revolutionized the way individuals understand their DNA, offering at-home genetic testing that gained rapid popularity. However, the company has struggled in recent years with massive financial losses, operational setbacks, and a significant data breach that led to a $30 million settlement in 2023. The failed attempt to take the company private, coupled with large-scale layoffs—affecting nearly 40% of the workforce—only deepened the crisis. When the company filed for bankruptcy, it was reportedly $2.3 billion in debt, holding just $126 million in cash reserves. Wojcicki stepped down as CEO during the proceedings.
Regeneron, a leader in biotechnology and drug development, is seizing the opportunity to enhance its precision medicine capabilities by acquiring 23andMe’s core assets. These include its Personal Genome Service, health and research services, and most notably, its biobank—a vast repository of genetic information from more than 15 million individuals. However, the acquisition excludes the Lemonaid Health telemedicine service, which will be shut down.
What makes this deal even more significant is the sensitivity surrounding 23andMe’s genetic data. Regeneron has publicly pledged to uphold the privacy protections previously in place and to comply with all applicable laws. A court-appointed customer privacy ombudsman will monitor the transfer and use of this data, with an official report expected by June 10. A bankruptcy court hearing to finalize the deal is scheduled for June 17.
The acquisition, expected to close in Q3 of 2025, positions Regeneron to continue offering 23andMe’s direct-to-consumer genetic testing. The company also aims to use the newly acquired data to fuel its drug discovery and development efforts, opening the door to more personalized treatments and targeted therapies.
This acquisition marks a pivotal moment for biotech innovation and raises important questions about the value and ethics of genetic data. For Regeneron, it’s a bold leap into consumer health, while for 23andMe, it’s the end of an era—one defined by ambition, disruption, and ultimately, a humbling fall.
IN BLOG
Trump’s One Big Beautiful Bill Clears Major Hurdle in House
