India, May 19 -- Regeneron Pharmaceuticals, Inc. (REGN) announced Monday that it has been named the bidder in the bankruptcy auction for substantially all of the assets of 23andMe Holding Co. (MEHCQ), a human genetics and biotechnology company, for $256 million.
The deal is expected to close in the third quarter, subject to bankruptcy court and regulatory approvals.
Regeneron intends to acquire 23andMe's Personal Genome Service or PGS, Total Health and Research Services business lines, together with its Biobank and associated assets. 23andMe will continue all consumer genome services uninterrupted.
Regenerons purchase does not include 23andMe's Lemonaid Health business.
Following the deal, 23andMe will be operated as a wholly owned dire...