Regeneron Acquires 23andMe for $256 Million
Biotech giant Regeneron is set to purchase genetic testing firm 23andMe for $256 million. The acquisition comes as 23andMe faces financial challenges. Regeneron has pledged to uphold 23andMe's existing privacy policies regarding user data. The deal aims to ensure continuity for 23andMe customers.
Regeneron Pharmaceuticals has announced its intent to acquire 23andMe, the popular genetic testing company, for $256 million. The acquisition follows a period of financial instability for 23andMe. Regeneron, known for its innovative work in biotechnology, has stated that it will adhere to 23andMe's current privacy policies, reassuring users about the security of their genetic information. This acquisition is expected to provide stability for 23andMe and allow it to continue offering its services to customers. The deal is subject to regulatory approvals and is expected to close in the coming months. Industry analysts believe this move will strengthen Regeneron's research capabilities by providing access to a vast database of genetic information, potentially leading to breakthroughs in personalized medicine.
Source: Read the original article at CBS