NEW YORK (WRGB) -- Regeneron Pharmaceuticals, Inc., the New York-based company, announced it has emerged as the successful bidder in the bankruptcy auction for nearly all assets of 23andMe Holding Co., a prominent human genetics and biotechnology firm. The acquisition, valued at $256 million, includes 23andMe's Personal Genome Service, Total Health and Research Services, Biobank, and associated assets.

Regeneron intends for 23andMe to continue its consumer genome services without interruption. The transaction, pending bankruptcy court and regulatory approvals, is expected to close in the third quarter of 2025.

Regeneron was one of the first biotech companies to bet its future on the power of DNA, fueling our drug discovery efforts so as to deliver some of the world's leading and most innovative medicines," said George D. Yancopoulos, M.D. Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. "We believe we can help 23andMe deliver and build upon its mission to help those interested in learning about their own DNA and how to improve their personal health, while furthering Regeneron's efforts to use large-scale genetics research to improve the way society treats and prevents illness overall.

The CEO of 23andMe said the company is happy to partner with a "science-driven" company.

We are pleased to reach an agreement with a science-driven partner that maintains our team and helps ensure our mission will carry forward," said Joe Selsavage, Interim Chief Executive Officer of 23andMe. "With the support of Regeneron and their deep experience in genetic sequencing, testing and discovery, we look forward to continuing to help people access and understand the human genome for the benefit of customers and patients.