business

5/19/25

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.

23andMe Sells Gene-Testing Business to DNA Drug Maker Regeneron

23andMe Kit

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.

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18h

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

18h

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

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