Power Alley: I (For One) Am Unbothered That 23AndMe Is Now Owned By Regeneron. My DNA Data Will REMAIN On File, At The Post Bankruptcy Company...

Why? Because I trust the ethics of the acquiring entity -- Regeneron. It has promised to honor all the privacy and anonymization covenants I long ago signed with the legacy public company. The pedigree of Regeneron could scarcely be improved upon: in business since the early 1980s, and long chaired by a consummate legend, Dr. Roy Vagelos (Merck alum).

We have long covered this story -- going back to late 2012. And the bankruptcy has come out about as I expected. In sum, no need to delete my data. Here's a bit of tonight's financial news, in the NYT:

. . .23andMe, the genetic testing company that was once valued at $6 billion but filed for bankruptcy in March, will be bought by Regeneron Pharmaceuticals, a biotechnology company that has used DNA research to develop new drugs.

Regeneron said it had been named the successful bidder in a bankruptcy auction and would pay $256 million for “substantially all of the assets” of 23andMe, which will continue to offer consumer DNA testing services.

23andMe filed for bankruptcy as it struggled to generate recurring revenue and faced a mountain of concerns over the security of the sensitive genetic information it held.

If approved by a bankruptcy court and by regulators, the sale was expected to close in the third quarter of 2025, Regeneron said. . . .

Onward -- smiling ear to ear. Sail on, Dr. Vagelos -- now 95 years young! You've traveled well, and traveled. . . light!



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