Rep. James Commer, R-KY. , 23andME data privacy concerns, his invitation to testify in front of lawmakers by the Sanctuary Governor, and whether NPR and PB should strip the funds.
Regeneron Pharmaceuticals announced on Monday that it would acquire “virtually everything” of the assets of genetic testing company 23andMe.
The pharmaceutical company has won a court-supervised auction for genetic testing companies, saying Regeneron has agreed to pay $256 million for its assets. 23AndMe has been auctioned as part of it Chapter 11 Bankruptcy Protection was submitted in March to facilitate the sale of the business.
In its bankruptcy petition, the company estimated the range of $100 million to $500 million for its assets. The estimated liabilities were the same.
Genetics Testing Company 23AndMe filed for Chapter 11 bankruptcy protection in March. (Justin Sullivan/Getty Images/Getty Images)
Regeneron said transaction Purchase of 23AndMe assets will close in the third quarter of 2025. It has been approved by the Bankruptcy Court, which oversees the Chapter 11 bankruptcy case of a genetic testing company. The transaction will be overwhelmed by the court in mid-June.
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According to 23andMe, the pharmaceutical company is purchasing 23andMe’s personal genomic services and its total health and research services segment.
23Andme said, “including Regeneron’s commitment, consent, privacy policy and security controls designed to process and protect all customer personal data in accordance with the company’s privacy policy and applicable laws,” said Regeneron’s commitment, consent, privacy policy and statements, terms of use and notifications that are currently in effect.”
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| regn | Regeneron Pharmaceuticals Inc. | 588.63 | -5.69 |
-0.96% |
“Through the Regeneron Genetics Center, we have a proven track record in protecting individual genetic data, ensuring 23andMe customers apply high standards of safety and integrity to data and ongoing consumer genetic services.”
Regeneron said the agreement to purchase 23andMe assets will end in the third quarter of 2025. (Pavlo Gonchar/SOPA Images/Lightrocket bygetty Images/Getty Images)
“We believe we can help 23andMe realize and build that mission to help us learn about our DNA and how to improve our individual health. Health and Wellness For many people,” he added.
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Provided by the Court-appointed Consumer Privacy Ombudsman court Even if it impacted consumer privacy after Regeneron reviewed its 23andMe purchase proposals, it was reported on June 10th and even if it affected consumer privacy,” 23Andme said.
Regeneron hopes to make 23andMe a “fully owned or indirect” subsidiary of the company after purchase, and plans to maintain personal genomics services.
The court-appointed consumer privacy ombudsman has provided the court with a June 10 report after Regeneron considers its purchase proposal for 23andMe, which will “affect consumer privacy, if any.” (Smith Collection/Gad/Getty Images/Getty Images)
“We are pleased to have arrived at a transaction that maximizes the value of our business and enables us to realize our 23andMe mission, while maintaining important protections regarding customer privacy, choices and consent regarding genetic data,” said Mark Jensen of 23andme.
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23Andme also operated Lemonaid Health, a subsidiary of Telehealth. The business that Regeneron has not purchased will be closed.
