Regeneron Pharmaceuticals To Buy 23andMe and Its Data For $256 Million

Regeneron Pharmaceuticals is acquiring most of 23andMe's assets for $256 million. The sale includes 23andMe's Personal Genome Service, Total Health and Research Services business lines. What's not included is 23andMe's telehealth unit, Lemonaid Health, which the company acquired for around $400 million in 2021. It'll be shut down, but all staffers will remain employed. CNBC reports: The deal is still subject to approval by the U.S. Bankruptcy Court for the Eastern District of Missouri. Pending approval, it's expected to close in the third quarter of this year, according to the release. In its bankruptcy proceedings, 23andMe required all bidders to comply with its privacy policies, and a court-appointed, independent "Consumer Privacy Ombudsman" will assess the deal, the companies said.

Several lawmakers and officials, including the Federal Trade Commission, had expressed concerns about the safety of consumers' genetic data through 23andMe's sale process. The privacy ombudsman will present a report on the acquisition to the court by June 10. "We are pleased to have reached a transaction that maximizes the value of the business and enables the mission of 23andMe to live on, while maintaining critical protections around customer privacy, choice and consent with respect to their genetic data," Mark Jensen, 23andMe's board chair, said in a statement. "At its peak, 23andMe was valued at around $6 billion," notes the report.

Pinky swear

[ThurstonMoore]

We'll protect your data, pinky swear.

Re:

[Tony Isaac]

You know those "Privacy Practices" notices you get from everybody these days? The ones that say they can do whatever they want with your data, and if you don't agree, you can just stop doing business with them?

23andMe is, and was never, any different. They have always shared DNA data with their "affiliates." There's really nothing they have to "pinky swear" to do, this is just saying they will keep doing what they've always done, which is share your data with whoever will pay for it.

Re:

[Powercntrl]

23andMe is, and was never, any different. They have always shared DNA data with their "affiliates."

At least Zuck has the decency to give you a shitty free service in exchange for running roughshod over your privacy. 23andme had the audacity to charge for the privilege of your contributing to their DNA database.

Re:

[Tony Isaac]

On the other hand, 23andMe doesn't cram advertising down your throat, every time you use their service. I guess everybody's got the piece of their privacy that they're willing to give away.

Re:

[anoncoward69]

When it comes to 23andMe and any other diagnostic service where you are paying for service and results. This data should be 100% owned by the person that paid for the service. The service should have no rights to hold on to the data and resell it as an asset. This would be like me as an employee while being paid by an employeer and creating a product (code or some other IP) for them on the clock and then keeping a copy of that to resell on my own time.

Re:

[ceoyoyo]

They didn't charge anything like what it cost, particularly at the beginning. That's why they went bankrupt.

I Always Feel Like

[SlashbotAgent]

somebody's watching meeee

https://www.youtube.com/watch?... [youtube.com]

"Regeneron"

[Anonymous Coward]

Sounds like the name of a company that would clone you from your DNA and then replace the original, as part of some stealth plan for world domination.

Re:

[jacks smirking reven]

Seems like they are trying to one up their competitor Invigaron [youtube.com].

Re: "Regeneron"

[vbdasc]

Or make a T-virus in an effort to create supersoldiers.

Ding dong

[dsgrntlxmply]

"Can we have your liver?"