UPDATEBiotechnology company Regeneron buying bankrupt 23andMe for $256MBy MICHELLE CHAPMAN AP logo
Monday, May 19, 2025 12:41PM
Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the South San Francisco-based genetic testing company filed for Chapter 11 bankruptcy protection.
In March 23andMe said that it was looking to sell "substantially all of its assets" through a court-approved reorganization plan. Its co-founder and CEO Anne Wojcicki also resigned from the top post, but remained as a board member.
23andMe has faced an uncertain future for some time. Beyond battles to go private, the company struggled to find a profitable business model since going public in 2021. Privacy concerns related to customers' genetic information have also emerged, notably spanning from a 2023 data breach - along with questions around what new ownership could mean for users' data. ...
AP via 6ABC News