Regeneron Pharmaceuticals is acquiring the assets of 23andMe for $256 million, excluding its Lemonaid Health business, as the company faces layoffs and office closure due to financial struggles and a past cyberattack.

The fall of 23andMe raises privacy concerns as Regeneron buys its genetic database for $256M after bankruptcy.

Attorney General Getner Drummond issued a warning to those who have used the genetic testing company 23andMe. The company has now filed for bankruptcy, and Drummond said in a statement that it will likely sell its corporate assets, a move that could include stored genetic data submitted by users.

The bankruptcy follows a tumultuous 18 months for 23andMe, marked by declining sales ... grievances unrelated to the cyberattack, such as issues with DNA test results or the company's telehealth ...

Oklahoma Attorney General Gentner Drummond issued a consumer alert for concerned 23andMe customers after the genetic testing company filed for bankruptcy protection last month.