23andMe, which launched in 2006, was famously lead and co-founded by Anne Wojcicki ex-wife of Google co-founder Sergey Brin. The company had tried for 10 years to create a robust business segment pairing its DNA data bank with drug discovery hoping to make it a more efficient process as the industry turned to more personalized and targeted treatments. But the few partnerships it succeeded in securing over the years produced little.DNA testing company 23andMe (MEHCQ) is being purchased out of bankruptcy by large-cap drugmaker Regeneron (REGN), for $256 million. The deal includes “substantially all assets,” but excludes the telehealth platform, pharmacy fulfillment business, and lab and test ordering services under Lemonaid Health, according to the agreement filed in the US Bankruptcy Court in the Eastern District of Missouri. The deal is scheduled to close July 1. What is your take on small company acquisition by big ones ?
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