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23&Me Insolvency: Bankruptcy & Genetic Material Assets
In the Chapter 11 bankruptcy proceedings of 23andMe, the court implemented several measures to manage the company’s extensive genetic material assets responsibly.
On May 14, 2025, Regeneron Pharmaceuticals emerged as the winning bidder in a bankruptcy auction, agreeing to acquire 23andMe’s assets for $256 million. The acquisition encompasses 23andMe’s Personal Genome Service, Total Health and Research Services, and its biobank containing genetic samples and data from approximately 15 million customers.
Regeneron has committed to upholding 23andMe’s existing privacy policies and ensuring compliance with relevant data protection laws. The assigned CPO (Consumer Privacy Ombudsman) in the bankruptcy, Neil M. Richards, is tasked with reviewing the transaction to ensure that customer data is handled appropriately and that privacy commitments are maintained.
Customers retain control over their genetic data. They can delete their data and close their accounts through 23andMe’s account settings. Additionally, customers who previously consented to research participation can withdraw their consent at any time.
The bankruptcy court will consider the CPO’s findings before approving the sale to Regeneron. The court’s decision will hinge on whether the transaction respects consumer privacy rights and complies with all relevant legal standards. The sale is expected to close in the third quarter of 2025, pending court and regulatory approvals.
