Pharmaceutical Company Announces It’s Buying 23andMe

Regeneron Pharmaceuticals was the winning bidder in a bankruptcy auction.

The Regeneron Pharmaceuticals company logo on a building at the company's Westchester campus in Tarrytown, N.Y. Brendan McDermid/Reuters

Regeneron Pharmaceuticals said on May 19 that it is buying the bankrupt 23andMe company, which has collected an enormous amount of genetic data.

Regeneron said in a statement that it is purchasing specifically 23andMe’s Personal Genome Service, which has collected the DNA from millions, for a price, as well as other assets. Regeneron won a bankruptcy auction with a $256 million bid.