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

Fact Check: Regeneron Pharmaceuticals' Bid for 23andMe's Assets

What We Know

Regeneron Pharmaceuticals announced its intention to acquire most of 23andMe’s assets for $256 million during a bankruptcy auction. This acquisition is aimed at maintaining 23andMe’s consumer genetics business and enhancing Regeneron’s capabilities in genetics-guided research and drug development. The deal is subject to approval by a bankruptcy court and regulatory bodies, with an expected closing in the third quarter of 2025 (source-1, source-3).

The acquisition includes 23andMe’s Personal Genome Service®, Total Health, and Research Services business lines, alongside its Biobank and related assets. Regeneron has committed to upholding customer privacy and ethical data use, which is a critical aspect of the transaction (source-4, source-7).

Analysis

The claim that Regeneron Pharmaceuticals made a $256 million bid for 23andMe’s assets is substantiated by multiple credible sources. The announcement from Regeneron itself details the acquisition plan and the financial specifics, reinforcing the reliability of the information (source-3).

Furthermore, reputable news outlets such as The New York Times and Fierce Biotech have reported on this transaction, confirming the bid amount and the context surrounding the bankruptcy auction (source-1, source-4). The consistency across these sources adds to the credibility of the claim.

However, it is important to note that the deal is still pending approval from the bankruptcy court, which introduces a level of uncertainty regarding the finalization of the acquisition (source-1).

Conclusion

The claim that Regeneron Pharmaceuticals initially announced a bid of $256 million to purchase most of 23andMe’s assets during a bankruptcy auction is True. The evidence from multiple reliable sources, including Regeneron’s official announcement and coverage by established news organizations, confirms the accuracy of this claim.

Sources

1. 23andMe to Be Bought by Biotech Company for $256 Million
2. 23andMe's founder Anne Wojcicki wins bid for bankrupt ...
3. Regeneron Enters into Asset Purchase Agreement to Acquire 23andMe® for ...
4. Regeneron's $256M bid wins 23andMe bankruptcy auction
5. Founder of 23andMe buys back company out of bankruptcy ...
6. Regeneron Pharmaceuticals to buy 23andMe for $256M
7. Anne Wojcicki to buy back 23andMe and its data for $305 ...