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Anne Wojcicki's nonprofit, TTAM Research Institute, has received court approval to acquire 23andMe, the genetic testing ...

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New York and more than two dozen other US states sued 23andMe to challenge the sale of its customers’ private information after the genetic testing company filed for bankruptcy in March.

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Regeneron stressed in their statement that it is experienced in handling DNA data, citing its broad work sequencing genetic information for nearly 3 million people in research studies.

Regeneron’s deal to acquire 23andMe is still subject to approval in the U.S. Bankruptcy Court for the Eastern District of Missouri. A hearing in the case was scheduled for June 17.

Genetic testing company 23andMe filed for Chapter 11 bankruptcy protection in March. Regeneron Pharmaceuticals announced it would buy "substantially all" of 23andMe's assets.

Regeneron was one of seven bidders for 23andMe, according to securities filings. Sold for $256 million, 23andMe has fallen far from its heyday.

Regeneron, a biotech company, will acquire 23andMe for $256 million and vowed to comply with the genetic testing company's privacy policies.

Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection.