Regeneron To Buy Bankrupt 23andMe For $256M, Promises Ethical Use Of Customer DNA Data

Reuters (5/19, Sunny, Mahatole) reports that Regeneron Pharmaceuticals “said on Monday it will buy genomics firm 23andMe Holding for $256 million through a bankruptcy auction.” Regeneron “aims to bolster its capabilities in genomics-driven drug discovery by integrating 23andMe’s trove of more than 15 million customer DNA profiles,” but it “promised to prioritize the ethical use of DNA data.” The company “said it will uphold 23andMe’s existing privacy policies and comply with all applicable data protection laws,” adding that it is “committed to working transparently with a court-appointed independent overseer who will assess the implications of the deal for consumer privacy.” The Washington Post (5/19, Gilbert) reports 23andMe “filed for bankruptcy in March after spending heavily to expand its business beyond its saliva collection kits.”