Regeneron Pharmaceuticals has finalized an agreement to acquire 23andMe for $256 million. This acquisition comes after 23andMe filed for bankruptcy in March, citing financial difficulties. Regeneron, a prominent player in the biotechnology industry, intends to maintain 23andMe's consumer-facing DNA testing services.
The acquisition is expected to create synergies between the two companies. Regeneron will leverage 23andMe's vast database of genetic information to accelerate its research and development efforts. 23andMe customers can anticipate continued access to their DNA testing services, with potential enhancements driven by Regeneron's resources. The deal is subject to regulatory approval and is anticipated to close in the coming months. Experts believe this acquisition could lead to breakthroughs in personalized medicine and drug discovery.
Regeneron Acquires 23andMe for $256 Million
Regeneron Pharmaceuticals, a leading biotechnology company, has announced its acquisition of 23andMe for $256 million. 23andMe, known for its consumer DNA testing services, filed for bankruptcy earlier this year. Regeneron plans to keep 23andMe's DNA testing services available to the public. The deal aims to combine Regeneron's research capabilities with 23andMe's extensive genetic data.