23andMe sells DNA database for $256 million to biotech giant Regeneron
23andMe is selling its prized DNA testing data bank to drugmaker Regeneron for $256 million as part of its bankruptcy asset sale.
The trove includes genetic data from more than 15 million customer DNA samples. Once a pioneer of at-home genetic testing, 23andMe filed for bankruptcy in March after failing to turn a profit.
As a result, the company was also delisted from the Nasdaq after making its market debut in June 2021.
23andMe faced growing pressure from customers and regulators to protect sensitive data that the company had spent years collecting. Regeneron said it “has a proven track record of safeguarding the genetic data of people” and will keep running 23andMe’s personal genomics business after the sale.
The deal will still need sign-off from the bankruptcy court.
As a result, the company was also delisted from the Nasdaq after making its market debut in June 2021.
23andMe faced growing pressure from customers and regulators to protect sensitive data that the company had spent years collecting. Regeneron said it “has a proven track record of safeguarding the genetic data of people” and will keep running 23andMe’s personal genomics business after the sale.
The deal will still need sign-off from the bankruptcy court.
