Regeneron Pharmaceuticals, Inc. has been named the successful bidder in the bankruptcy auction for substantially all of the assets of 23andMe Holding Co., a human genetics and biotechnology company. Regeneron intends to acquire 23andMe’s Personal Genome Service (PGS), Total Health and Research Services business lines, together with its Biobank and associated assets, for $256 million.

Subject to bankruptcy court and regulatory approvals and other customary closing conditions, the transaction is expected to close in the third quarter of 2025.

As the successful bidder, Regeneron is prepared to detail the intended use of customer data and the privacy programs and security controls in place for review by a court-appointed, independent Customer Privacy Ombudsman and other interested parties.

23andMe will be operated as a wholly owned direct or indirect subsidiary of Regeneron Pharmaceuticals, Inc. and continue operations as a personal genomics service. Regeneron’s purchase does not include 23andMe’s Lemonaid Health business. Additional details about the company’s operating plans will be shared at time of closing.

“Regeneron was one of the first biotech companies to bet its future on the power of DNA, fueling our drug discovery efforts so as to deliver some of the world’s leading and most innovative medicines, including treatments to prevent blindness, for allergic diseases from asthma to atopic dermatitis, for several forms of cancer, and even for Ebola and COVID-19,” said George D. Yancopoulos, M.D. Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “We believe we can help 23andMe deliver and build upon its mission to help those interested in learning about their own DNA and how to improve their personal health, while furthering Regeneron’s efforts to use large-scale genetics research to improve the way society treats and prevents illness overall.”

“We are pleased to reach an agreement with a science-driven partner that maintains our team and helps ensure our mission will carry forward,” said Joe Selsavage, Interim Chief Executive Officer of 23andMe. “With the support of Regeneron and their deep experience in genetic sequencing, testing and discovery, we look forward to continuing to help people access and understand the human genome for the benefit of customers and patients.”