By Fineline Cube 
US-based biopharma Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) announced this week that it has successfully bid in the bankruptcy auction for substantially all of the assets of 23andMe Holding Co. Regeneron will acquire 23andMe’s Personal Genome Service (PGS), Total Health and Research Services business lines, along with its Biobank and associated assets, for USD 256 million. The transaction, which excludes 23andMe’s Lemonaid Health business, is expected to close in the third quarter of this year. Regeneron plans to maintain uninterrupted operation of 23andMe’s direct-to-consumer services post-acquisition.
Lemonaid Health Background
Lemonaid Health, a virtual platform for online on-demand access to medical and pharmacy services, merged with 23andMe in a USD 400 million deal in October 2021. This added telemedicine and prescription drug delivery services to 23andMe’s consumer business. 23andMe reportedly considered selling the unit in January of this year.
23andMe Financial Overview
Founded in 2006, 23andMe made its debut in 2021, reaching a peak market value of USD 6 billion. However, the company has never been profitable since its inception. As of December 31, 2024, its cash and cash equivalents totaled only USD 79.4 million. In March 2025, 23andMe filed for bankruptcy protection after unsuccessful attempts at privatization and acquisition.-Fineline Info & Tech