23andMe was once worth $6 billion. What's left of the DNA testing startup is being bought for $256 million.
Business InsiderMAY 30
Regeneron Acquires 23andMe for $256 Million Amid Privacy Concerns
Above: A sign is posted in front of the 23andMe headquarters on February 01, 2024 in Sunnyvale, California. Image copyright: Justin Sullivan/Staff/Getty Images News via Getty Images
The Spin
Narrative A
The acquisition represents a strategic opportunity to advance genomics-driven drug discovery and improve public health outcomes. Regeneron's proven track record in managing genetic data and research capabilities makes it an ideal steward for 23andMe's valuable database of 15 million DNA profiles. The deal ensures continuity of services while maintaining robust privacy protections.
Narrative B
The sale raises serious concerns about the commercialization of sensitive genetic information and the potential for privacy violations. Without comprehensive federal privacy regulations, there are limited ways to hold companies accountable for their data management practices. The transaction highlights the risks of entrusting personal genetic information to private companies facing financial difficulties.