The 23andme failed genetic test company agreed to sell its database, which once contained DNA samples of around 15 million people, to the Developer of Regeneron Pharmaceuticals drugs for $ 256 million.
The sale comes after a wave of government customers and representatives asked that 23Andme Protect genetic data He had built himself over the years by collecting saliva samples with customers.
Regeneron is committed to complying with the 23andme privacy policy, which allows customers to delete their personal information on request.
“We have a deep experience in data management on a large scale,” said the co-founder of Regeneron, George D. Yancopoulos, in a press release. The company “has proven itself of safeguarding the genetic data of people around the world and, with their consent, using this data to continue the discoveries that benefit science and society”.
23andm bankrupt In March, after having failed to generate sustainable profits by providing medical genetic tests and linked to ancestry to more than 15 million customers.
About 550,000 people had subscribed to the two primary services of the company, which was not enough to maintain the company afloat. One of these services, Lemonaid Health, was not part of the sale and will be wrapped, said 23 and 23 in a press release.
As part of the bankruptcy of chapter 11 of 23andme, a judge approved the appointment of a confidentiality mediator to monitor the sales process and guarantee compliance with confidentiality policies linked to genetic equipment subject by customers.
This material and the genetic data it produced was the most precious asset of 23andm. The company said that any buyer had to comply with current confidentiality and federal regulations.
Regeneron said that he would continue to execute the personal genomic services of 23andme once the sale is completed. The judge supervising bankruptcy must approve the sale before he can be completed.
In the months preceding his bankruptcy, 23andme tried to attract a buyer while fighting to end a collective appeal linked to a data violation of 2023 which gave hackers access to customer information. The company will try to resolve these complaints within the framework of bankruptcy.
The case is 23andme holding co., Number 25-40976Before the American bankruptcy court for the Oriental district of Missouri.
Church and Smith write for Bloomberg.