Fact Check: Regeneron Pharmaceuticals' Bid for 23andMe's Assets
What We Know
Regeneron Pharmaceuticals has indeed announced a bid of $256 million to acquire most of 23andMe's assets during a bankruptcy auction. This announcement came after 23andMe filed for bankruptcy in March 2025, primarily due to struggles in generating recurring revenue and concerns over the security of sensitive genetic information it held (New York Times, Fierce Biotech). Regeneron has stated that it will maintain 23andMe's consumer DNA testing services and comply with existing privacy policies (Regeneron News Release).
If the sale is approved by a bankruptcy court and regulators, it is expected to close in the third quarter of 2025 (Investopedia). This acquisition would grant Regeneron control over the genetic information of millions of 23andMe customers, a significant move given the company's focus on genetics in drug development (MedCity News).
Analysis
The claim that Regeneron Pharmaceuticals made a bid of $256 million for most of 23andMe's assets is supported by multiple reputable sources. The New York Times and Fierce Biotech both confirm that Regeneron was the successful bidder in the bankruptcy auction, offering this exact amount for the acquisition (New York Times, Fierce Biotech).
Regeneron's commitment to maintaining consumer services and adhering to privacy laws adds a layer of credibility to the deal, as outlined in their official statements (Regeneron News Release). Furthermore, the context of 23andMe's financial struggles and the implications of a data breach in 2023 provide a backdrop that highlights the urgency and significance of this acquisition (New York Times).
The sources used in this analysis are credible, with The New York Times being a well-respected news outlet, and Regeneron's own press release providing direct information from the company. Other sources like Investopedia and Fierce Biotech are also recognized for their focus on business and healthcare news, further supporting the reliability of the information presented.
Conclusion
The claim that Regeneron Pharmaceuticals previously 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 confirms that Regeneron was indeed the successful bidder for 23andMe's assets at this specified amount, with plans to continue offering consumer services and adhere to privacy regulations.
Sources
- 23andMe to Be Bought by Biotech Company for $256 Million
- Regeneron Enters into Asset Purchase Agreement to Acquire 23andMe® for $256 Million
- Regeneron's $256M bid wins 23andMe bankruptcy auction
- Regeneron Buys 23andMe in Bankruptcy Auction - Investopedia
- Anne Wojcicki to buy back 23andMe and its data for $305 million
