(RTTNews) - Regeneron Pharmaceuticals, Inc. (REGN), an American biotechnology company, on Monday announced that it planned to acquire 23andMe Holding Co.'s Personal Genome Service, Total Health and Research Services divisions, along with its Biobank and related assets for $256 million.
The transaction is expected to close in the third quarter.
Regeneron has been selected as the successful bidder in the bankruptcy auction for substantially all of the assets of 23andMe Holding Co.
The deal will allow 23andMe to continue providing consumer genome services without interruption.
Regeneron Pharma is currently 0.35% higher at $596.39 on Nasdaq.
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