23andMe, the iconic DNA-testing company that helped people learn about their ancestors and aimed to improve their medical care using genetic data, agreed to be purchased out of bankruptcy on Monday for $256 million, a steep fall from the $6 billion peak it achieved in 2021.
The company would live on inside biotech Regeneron, which said it would continue operating 23andMe’s DNA-testing business and use its database of roughly 15 million DNA samples to help discover new drugs.
Regeneron said it would “ensure compliance” with 23andMe’s privacy policy, which will be reviewed by a court-appointed ombudsman.
For a few years last decade, 23andMe had been one of the best known consumer-technology brands. Life-altering stories of people finding new relatives inspired others to scoop up their own $99 kit—and spit into test tubes—to learn about their own genealogical roots.
