23andMe Agrees to $256 Million Sale to Regeneron

Deal News | May 19, 2025 | Goodwin

23andMe Holding Co., a consumer healthcare and biotechnology company, has entered into an asset purchase agreement with Regeneron for approximately $256 million. The agreement, advised by Goodwin's M&A and Financial Restructuring teams on behalf of 23andMe’s Special Committee, resulted from an auction process under 23andMe’s ongoing Chapter 11 case. The assets to be acquired include 23andMe’s Personal Genome Service, Total Health, and Research Services business lines. Regeneron has committed to adhering to 23andMe's existing privacy policies and data processing standards. This court-supervised process requires approval from the U.S. Bankruptcy Court for the Eastern District of Missouri, compliance with the Hart-Scott-Rodino Act, and satisfaction of customary closing conditions. The sale's legal proceedings are scheduled for hearing by the end of June 2025, with an anticipated transaction close in Q3 2025.

Sectors

  • Biotechnology
  • Healthcare
  • Legal and Financial Advisory

Geography

  • United States – The transaction involves U.S.-based companies and requires approval from the U.S. Bankruptcy Court and compliance with U.S. antitrust laws.

Industry

  • Biotechnology – 23andMe operates in the biotechnology sector, focusing on genomics and personalized medicine.
  • Healthcare – 23andMe provides consumer healthcare services through its genetics-led healthcare products.
  • Legal and Financial Advisory – Goodwin provided M&A and financial restructuring advisory services during the transaction.

Financials

  • $256 million – The purchase price Regeneron agreed to pay for acquiring 23andMe's assets.

Participants

NameRoleTypeDescription
23andMe Holding Co.TargetCompanyA genetics-led consumer healthcare and biotechnology company involved in Chapter 11 restructuring.
RegeneronBidding CompanyCompanyA biopharmaceutical company set to acquire 23andMe's assets.
GoodwinLegal AdvisorCompanyGoodwin's M&A and Financial Restructuring teams advised 23andMe's Special Committee during the transaction.
U.S. Bankruptcy Court for the Eastern District of MissouriGovernmentGovernmentThe court overseeing 23andMe's Chapter 11 proceedings and responsible for approving the transaction.