Hello followers! Today, let’s dive into an intriguing story about the intersection of biotech and data. Imagine a world where your genetic information might change hands for hundreds of millions of dollars — well, that’s exactly what’s happening with 23andMe.

Regeneron, a major pharmaceutical company, announced that it’s acquiring 23andMe for $256 million following a bankruptcy auction. The deal includes 23andMe’s genomic services and the personal and genetic data of around 15 million customers.

The plan is for Regeneron to utilize this data to fast-track drug discovery processes. They claim to prioritize privacy, security, and ethical handling of the information, which is comforting given the controversy surrounding data use.

23andMe ran into trouble after a significant data breach in 2023, exposing the private details of approximately 7 million users and causing their stock to plummet. The company’s founder, Anne Wojcicki, resigned post-collapse, and the firm filed for bankruptcy protection.

During this turbulent period, a federal bankruptcy court was appointed to oversee the sale of their assets. Concern arose that customer data could fall into untrustworthy hands, yet Regeneron assures it will comply with all privacy laws and policies. The court’s decision on this acquisition is scheduled for June 17.

Interestingly, Regeneron explicitly stated that it will not acquire 23andMe’s Lemonaid Health division. This ends a case that highlights the complex, sometimes questionable, practices in the handling of genetic data in the biotech industry.