23andMe

In May 2025 Drugmaker Regeneron Pharmaceuticals said will buy genetic testing firm 23andMe for $256 million through a bankruptcy auction. Regeneron said it will comply with 23andMe’s privacy policies and applicable laws with respect to the use of customer data and that it is ready to detail its intended use of the data to a court-appointed overseer. After the transaction completes, 23andMe will continue to operate as a wholly owned direct or indirect unit of Regeneron. Offers direct-to-consumer personal genome testing via swabbed saliva samples collected and sent by consumer. 23andMe, a consumer genetics company, went public via a merger with Richard Branson's special purpose acquisition corporation (SPAC) VG Acquisition Corp. VGAC, 10.88%, in a deal with an enterprise value of about $3.5 billion, the companies said Thursday February 4 2021. The deal that valued 23andMe at around $3.5 billion. 23andMe co-Founder Anne Wojcicki and Richard Branson Invested $25 million in the company. In 2024 23andMe struggled to generate steady recurring revenue since consumers only needed to take its DNA test once in order to receive their results. The company has launched additional therapeutics and research businesses, but its share price has tumbled more than 95% from its peak. 23andMe is also contending with mounting legal troubles as it faces more than 30 class-action lawsuits following a data breach it disclosed late in 2023. The stock closed at around 63 cents on Thursday February 9 2024. In November, 23andMe received a deficiency letter from the Nasdaq Listing Qualifications Department giving the company 180 days to bring its share price back above $1 or face being delisted. .