New investment Regeneron Pharmaceuticals has declared its intention to purchase the troubled genetic testing company 23andMe for $256 million. 23andMe is clearly trying to position itself strategically as it has recently hit critical financial straits. In reaction, California Attorney General Rob Bonta is encouraging all Californians who have used the platform to remove their genetic information. This agreement marks a notable expansion geographically for Regeneron. Its home state, New York-based company runs the Regeneron Genetics Center, which houses a genetic dataset of almost three million people.
The deal will bring 23andMe’s assets, including its base of genetic data, into Regeneron’s current framework for genetic research. With such a rich dataset at their fingertips, the Regeneron Genetics Center has endless research opportunities. By combining these datasets, Regeneron aims to improve their leadership in genomic research and development of new therapies.
Attorney General Rob Bonta is encouraging Californians to reevaluate how they keep their personal information on the app. He underlines the need to ensure privacy and data security in the wake of this upheaval today.
“As a world leader in human genetics, Regeneron Genetics Center is committed to and has a proven track record of safeguarding the genetic data of people across the globe, and, with their consent, using this data to pursue discoveries that benefit science and society,” – Aris Baras
Legal advocates cautioned that such transitions must follow privacy policies. Andrew Ferguson noted that “any purchaser should expressly agree to be bound by and adhere to the terms of 23andMe’s privacy policies and applicable law.” This point highlights the importance of being transparent and building trust when dealing with sensitive genetic data.
Following this acquisition, Regeneron will be well positioned to continue leading the genetic research space. Simultaneously, the company must address persistent fears over the security of information and the risk of genetic data being misused. Ensuring successful integration will soon become a key focus of stakeholders as they watch how Regeneron handles 23andMe’s current database and user trust.
