Regeneron Prescription drugs, an organization that has been analyzing genetic information as a part of its drug analysis for greater than a decade, is augmenting its capabilities in an enormous approach with the $256 million acquisition of belongings from genetic testing firm 23andMe.
The acquisition follows the choice of Regeneron’s bid because the winner the public sale course of that was a part of 23andMe’s Chapter 11 chapter proceedings. In line with a 23andMe regulatory submitting, Regeneron’s bid beat six different certified bidders that participated within the public sale. Not one of the different bidders have been recognized, however after the chapter submitting was introduced in March, 23andMe co-founder and former CEO Anne Wojcicki stated she resigned from her publish in order that she may bid for the corporate beneath the public sale course of. Over the previous 12 months, Wojicki’s efforts to take 23andMe personal have been unsuccessful.
Regeneron is getting “considerably all” of 23andMe, together with the genetic testing firm’s Private Genome Service, Whole Well being and Analysis Providers enterprise strains, and its Biobank and related belongings. The Tarrytown, New York-based drugmaker stated all shopper genome companies supplied by 23andMe will proceed uninterrupted. Regeneron stated it can adjust to 23andMe’s shopper privateness insurance policies and relevant legal guidelines relating to the remedy of buyer information.
Regeneron is is ready to element the way it intends to make use of buyer information and the privateness measures it has in place for evaluate by a court-appointed, unbiased Buyer Privateness Ombudsman and different events, the corporate stated. Excluded from the acquisition is Lemonaid Well being, an internet pharmacy that 23andMe acquired in 2021. 23andMe will wind down these belongings quickly after the transaction closes.
Whereas 23andMe is greatest identified for its shopper genetics checks, the corporate additionally tried to leverage the information it collected for drug analysis. It labored with pharmaceutical firms, permitting them to make use of de-identified genetic information from its databases. This work by no means turned an enormous a part of 23andMe’s enterprise, nevertheless it seems to be necessary to Regeneron’s plans.
In 2013, Regeneron began a genomic analysis initiative referred to as the Regeneron Genetics Middle, or RGC. The corporate says this wholly owned subsidiary has a database of greater than 2.7 million sequenced exomes and de-identified well being data. For context, 23andMe has stated its biobank has genetic data from greater than 15 million clients.
RGC applies information analytics instruments and machine-learning strategies to those information to seek out associations between genes and ailments as a approach to information Regeneron’s drug R&D. In its annual report, Regeneron says RGC’s analysis efforts have led to the identification of greater than 30 novel genetic targets. These targets stay undisclosed, however Regeneron stated analysis on them is continuous with different applied sciences owned by the corporate. 23andMe offers RGC extra genetic information to research.
“We’ve got deep expertise with large-scale information administration, having labored with collaborators around the globe to hyperlink deidentified DNA sequences from almost three million consented members to digital well being data, safely and securely enabling future medical advances,” Regeneron President and Chief Scientific Officer George Yancopoulos stated in a ready assertion. “We consider we might help 23andMe ship and construct upon its mission to assist these considering studying about their very own DNA and the right way to enhance their private well being, whereas furthering Regeneron’s efforts to make use of large-scale genetics analysis to enhance the best way society treats and prevents sickness total.”
The acquisition nonetheless wants court docket and regulatory approvals. A listening to earlier than the chapter court docket is scheduled for June 17. Regeneron expects to shut the transaction within the third quarter of this 12 months.
Photograph: Michael Nagle/Bloomberg, by way of Getty Photos
