Key Points
- Regeneron Pharmaceuticals is acquiring “substantially all” of 23andMe’s assets for $256 million following a bankruptcy auction.
- The drugmaker is buying 23andMe’s Personal Genome Service, Total Health and Research Services business lines, but not its telehealth subsidiary Lemonaid Health.
- 23andMe, a once high-flying genetic testing company, filed for for Chapter 11 bankruptcy protection in March.