Pharmaceutical giant Regeneron has announced its intention to purchase 23andMe, a leading genetic testing company, for $256 million following a bankruptcy auction. As part of the deal, Regeneron will acquire 23andMe's genomics service along with a vast database containing the personal and genetic information of 15 million customers. The company stated that this data will play a crucial role in advancing drug discovery efforts. Regeneron emphasized its commitment to prioritizing the privacy, security, and ethical use of 23andMe’s customer data. 23andMe filed for bankruptcy protection in March 2023, following a significant data breach that compromised the personal and genetic information of 7 million customers throughout the year. This incident, combined with a decline in consumer interest in the company’s DNA testing kits, led to a precipitous drop in the company's stock price, which fell to near-zero. In the wake of these challenges, 23andMe’s founder and CEO, Anne Wojcicki, resigned from her position. Post-filing, a federal bankruptcy court took over the process of selling 23andMe’s assets, raising concerns among stakeholders about the potential misuse of customer data if it were to fall into the hands of adversarial nations or unethical parties. To address these concerns, Regeneron stated in its announcement that it intends to adhere to 23andMe’s existing privacy policies and comply with all relevant laws governing customer data. The bankruptcy court is scheduled to review and decide on Regeneron’s bid to acquire 23andMe on June 17. It is important to note that Regeneron’s offer does not include 23andMe’s Lemonaid Health business, which will be handled separately.