Regeneron Pharmaceuticals, a prominent player in the biotechnology field, has announced its plans to purchase 23andMe for $256 million, following the DNA-testing firm’s bankruptcy. The acquisition is intended to allow for the seamless continuation of 23andMe’s operations while maintaining its commitments to privacy protections for customers.
In a press release regarding the deal, Regeneron reassured the 15 million users of 23andMe that their personal data—including genetic profiles, health details, and genealogical information—would remain secure under their stewardship. The company intends to leverage the extensive genetic data gathered by 23andMe to enhance its own genetic research and medical innovation efforts, which the original company had struggled to achieve.
“As a leader in the field of human genetics, the Regeneron Genetics Center has established a strong reputation for protecting genetic data globally while pursuing scientific advancements with the consent of data contributors,” stated Aris Baras, senior vice president and head of the Regeneron Genetics Center. “We pledge to uphold stringent standards of data privacy, security, and ethical governance to ensure that 23andMe’s dataset is handled responsibly and effectively, ultimately contributing to improvements in human health.”
According to Baras, the Regeneron Genetics Center currently possesses a genetic dataset accumulated from nearly 3 million individuals.
Concerns about the security of 23andMe’s data have grown among consumers, regulators, and legislators amid the company’s financial challenges. For instance, California Attorney General Rob Bonta recently advised residents to delete their genetic information due to 23andMe’s precarious situation. Additionally, Andrew Ferguson, the Chairman of the Federal Trade Commission, emphasized in a letter from March that any prospective buyer must adhere to 23andMe’s existing privacy policies and comply with relevant legal standards.
