Genetic testing firm 23andMe, known for its at-home DNA kits, is set to be acquired for $256 million. The buyer is Regeneron, a company that develops medicines. 23andMe has faced challenges recently, leading to the acquisition. A key part of the deal is Regeneron's commitment to protecting the privacy and security of user data.
This acquisition aims to ensure the continuation of 23andMe's services. Users can expect their DNA information to be handled with care under the new ownership. The deal is subject to regulatory approvals and is expected to close in the coming months. The acquisition marks a significant shift for the personal genetics industry.
23andMe Acquired for $256 Million; User Data Protection Promised
Genetic testing company 23andMe, facing financial difficulties, has agreed to be acquired for $256 million. Regeneron, a biopharmaceutical company, is the buyer. The acquisition agreement includes provisions designed to protect the sensitive genetic data of 23andMe's users. The deal aims to secure the future of the popular DNA testing service.
Source: Read the original article at BBC