Fact Check: Regeneron Pharmaceuticals initially announced a bid of $256 million for most of 23andMe’s assets during a bankruptcy auction.

Fact Check: "Regeneron Pharmaceuticals initially announced a bid of $256 million for most of 23andMe’s assets during a bankruptcy auction."

What We Know

Regeneron Pharmaceuticals has indeed been named the successful bidder in a bankruptcy auction for 23andMe, agreeing to pay $256 million for "substantially all of the assets" of the genetic testing company. This announcement comes after 23andMe filed for Chapter 11 bankruptcy in March 2025, primarily due to struggles in generating recurring revenue and concerns over the security of customer genetic information (New York Times, AP News). The deal is expected to close in the third quarter of 2025, pending approval from a bankruptcy court and regulatory bodies (Fierce Biotech).

Analysis

The claim that Regeneron Pharmaceuticals announced a bid of $256 million for 23andMe's assets is accurate. Multiple reputable sources confirm that Regeneron won the auction with this bid, which was part of a court-approved reorganization plan for 23andMe (Globe Newswire, MedCity News).

The reliability of the sources is high, as they include established news organizations and official press releases from Regeneron. The New York Times and AP News are known for their journalistic integrity and fact-checking standards. The information provided is consistent across these sources, reinforcing the credibility of the claim.

Additionally, the context surrounding the bankruptcy of 23andMe, including its financial struggles and the implications of the sale for customer data privacy, adds depth to the understanding of the situation. Regeneron has stated its commitment to maintaining customer privacy and complying with existing privacy laws (Fierce Biotech, Globe Newswire).

Conclusion

The claim that "Regeneron Pharmaceuticals initially announced a bid of $256 million for most of 23andMe’s assets during a bankruptcy auction" is True. The evidence from multiple credible sources confirms that Regeneron has indeed made this bid and won the auction, with plans to maintain the consumer genetics business and adhere to privacy regulations.

Sources

1. 23andMe to Be Bought by Biotech Company for $256 Million
2. Biotechnology company Regeneron buying 23andMe for $256 million
3. Regeneron Enters into Asset Purchase Agreement to Acquire 23andMe® for ...
4. Regeneron's $256M bid wins 23andMe bankruptcy auction
5. 23andMe Bankruptcy Auction Win Adds Big Piece to Regeneron's Gene-Based ...