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Eyes On Pharma Blog 

Eyes on a 23andMe & Regeneron Deal

  • jroele
  • May 19
  • 3 min read

Updated: Jun 6

Last update June 6, 2025

23andME HQ Building

🔄 Update – June 6, 2025: Deal Uncertainty – Anne Wojcicki May Challenge Regeneron Offer


What initially appeared to be a clean acquisition of 23andMe by Regeneron is now looking far less certain.


According to Investor’s Business Daily, former CEO Anne Wojcicki is reportedly working on an alternative offer that could outbid Regeneron, aiming to regain control of the company not included in Regeneron’s targeted asset purchase.


While Regeneron is focused on acquiring 23andMe’s therapeutics division, Wojcicki appears to be moving to retain or reclaim the consumer genetics business, suggesting a potential split or standoff within the deal.


This adds a new dynamic:

  • The $256M price tag now seems tied only to specific assets, not the full company.

  • The situation is fluid, and ownership of 23andMe’s future remains unresolved.

  • Strategic outcomes may vary from asset carve-outs to a competitive bid scenario.


📚 Scroll down for our original breakdown of the Regeneron–23andMe deal now entering an unexpected new phase.


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🔄 Update – May 19, 2025: Regeneron to Acquire 23andMe for $256 Million


Just two weeks after our initial blog post was published, 23andMe has made headlines again — this time for being acquired by Regeneron Pharmaceuticals in a deal valued at $256 million.


This move confirms the strategic pivot we explored below: 23andMe’s gradual evolution from a consumer genetics company into a biotech player with pharma ambitions. It also reflects growing industry momentum around the integration of large-scale genomic data with drug discovery platforms.


🧬 Why Regeneron is buying 23andMe:

  • Genomic Data at Scale: With over 14 million genotyped customers, 23andMe holds one of the largest repositories of consumer-driven genetic data globally.

  • Drug Discovery Potential: Regeneron is expected to leverage this data to enhance its own genetics-led R&D engine, particularly in identifying new therapeutic targets and validating disease associations.

  • Strategic Synergy: Regeneron already has a track record in using human genetics to guide drug development (e.g., via its Regeneron Genetics Center). The 23andMe acquisition could help scale this capability even further.


🔍 Context from our May 5th Analysis:

As discussed in our original blog post:

  • 23andMe has faced declining revenue in its consumer division and a stagnating drug pipeline, prompting the need for strategic refocus.

  • Their partnership with GSK ended early but highlighted their intent to play a more active role in biopharma innovation.

  • We identified their bifurcated strategy: maintaining a consumer presence while trying to transition into a therapeutics-led organization — a move that could now be completed through this acquisition.

📉 Market Signals:

  • This acquisition comes amid financial headwinds for 23andMe, including a falling share price since its 2021 SPAC merger.

  • The deal value - $256M - represents a significant markdown from its once multi-billion dollar valuation but signals long-term belief in the strategic value of its data and IP.

This deal illustrates a broader industry trend: biotech companies doubling down on real-world data, genomics, and platform-driven R&D and the growing belief that competitive advantage in pharma may hinge on data, not just molecules.

📚 Keep reading below for our original deep dive into 23andMe’s strategic shift, now validated by this headline-making acquisition.

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