Regeneron Pharmaceuticals, a company that has genetic legs of the legs as part of its drug investigation for more than a decade, is increasing its capabilities in a big way with the acquisition of genetic assets of $ 256 million of the GENETIC TESTS COMPANY 23Andme.
The acquisition follows the Regeneron’s Pray selection as the winner of the auction process that was part of the bankruptcy procedures of Chapter 11 of 23andme. According to a regulatory presentation of 23 Andme, Regeneron’s offer beat six other qualified bidders who participated in the auction. None of the other vidders was identified, but after the bankruptcy archive was announced in March, the co -founder of 23Andme and former CEO Anne Wojcicki said he resigned from his position to be able to pride the company’s offer under the auction process. Around the last year, Wojicki’s efforts to take 23 and the private were not successful.
Regeneron is obtaining “all” or 23 Andme “substantial, including the personal genome service of the genetic test company, the commercial lines of health and total research services and its biobanco assets and associates. The drug manufacturer based in Tarrytown, New York, said that all consumer genome services offered by 23Andme will continue uninterrupted. 23Andme consumer privacy policies and application laws regarding the processing of customer data.
Regeneron is prepared to detail how it intends to use customer data and privacy measures that you have to review an independent privacy defender and other interested parties designated by the court and other interested parties, the company said. Lemonoid Health purchase was excluded from the purchase, an online pharmacy that 23Andme acquired in 2021. 23andme bathing these assets shortly after the transaction is closed.
While 23nd me is well known for its consumer genetic tests, the company also tried to take advantage of the data it collected for drug research. It worked with pharmaceutical companies, which allowed them to use genetic data of de-organized from their databases. This work never became a large part of the 23Andme business, but it seems important for Regeneron’s plans.
In 2013, Regeneron began a genomic research initiative called Genetics Center, or RGC. The company says that this absolute property subsidiary has a database of more than 2.7 million sequenced exhances and IIDEF right information. For the context, 23Andme has said that its biobanco has genetic information of more than 15 million customers.
RGC applies data analysis tools and automatic learning techniques to this data to find associations between genes and diseases as a way to guide the RIENERON medications. In its annual report, Regeneron says that RGC research efforts have led to the identification of more than 30 new genetic objectives. These objectives are still not revealed, but regeneon said that research on the subject continues with other technologies owned by the company. 23Andme gives RGC more genetic data to analyze.
“We have a deep experience with large -scale data management, having worked with collaborators from all over the world to link the identified DNA sequences of almost three million participants consented to electronic health records, safely and safely and safely and in a safe way and the chatton that accompany pleasure” “, said Yancopoulos in a prepared statement.” We believe that we can help me to deliver their mission and build their mission interested in learning their own DNA and the way they improve their health. Large -scale tedics to improve improvements to improve the improvement of improvement improvement. “
The purchase still needs the Court and regulatory approvals. A hearing before the Banking Court is scheduled for June 17. Regeneron hopes to close the transaction in the third quarter of this year.
Photo: Michael Nagle/Bloomberg, through Getty Images
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