(Updates paragraph 1, adds national security review, house committee testimony and Regeneron

acquisition in paragraphs 21 to 23)

May 19 (Reuters) - Drugmaker Regeneron Pharmaceuticals is acquiring majority

assets of bankrupt genetic testing firm 23andMe Holding ( MEHCQ ) for $256 million.

The once-sizzling DNA-testing startup filed for bankruptcy in March, hit by faltering demand

for its ancestry testing kits as it struggled to contain the reputational damage from a

widespread data breach.

Presented below is a sequence of events outlining the journey of the San Francisco-based

firm, once considered a pioneer in the DNA-testing space:

2006: Anne Wojcicki, Linda Avey and Paul Cusenza come together as co-founders of 23andMe. A

year later, the company launches its first direct-to-consumer genetic testing kit, which

provides more than 200 health and trait reports as well as genetic ancestry information.

2008: Time magazine labels 23andMe's saliva-based genetic testing kit the "Invention of the

Year."

2013: The U.S. Food and Drug Administration issues a warning letter to 23andMe to stop

selling its genetic tests due to concerns that it failed to provide any indication that it had

analytically or clinically validated the test kits for its intended uses.

2015: After two years of working with regulators - including meeting some of the FDA's

reporting requirements - the company is able to market its DNA test kit directly to individuals

in the United States.

2016: 23andMe makes it to the CNBC Disruptor 50 list of companies.

2017: Oprah Winfrey names the 23andMe genetic testing kit one of her "favorite things" of

the year.

2018: 23andMe signs a four-year collaboration agreement with British drugmaker GSK,

focusing on research and development of new medicines using human genetics.

2019: American singer Lizzo dresses up as the company's DNA test kit for Halloween, and

23andMe is featured in actor Eddie Murphy's sketch on Saturday Night Live.

Several media outlets report that the company is seeing an almost 54% decline in sales of

its genetic testing kits.

2021: 23andMe goes public after merging with billionaire Richard Branson's SPAC, notching up

a $3.5 billion valuation. Its market capitalization nears $6 billion later that year and the

company spends $400 million to buy telehealth firm Lemonaid Health.

2023: 23andMe notifies customers of a data breach in its "DNA Relatives" feature that

allowed them to compare ancestry information with users worldwide. It is later revealed that

hackers stole ancestry data on 6.9 million users.

April 2024: Co-founder and CEO Anne Wojcicki considers making an offer to take the company

private.

July 2024: Wojcicki makes her first non-binding proposal to acquire all of the company's

outstanding shares for 40 cents per share.

August 2024: 23andMe's board rejects Wojcicki's take-private offer, calling it

"insufficient."

Lemonaid Health begins to offer branded and compounded versions of Novo Nordisk's

popular weight-loss drug Wegovy.

September 2024: 23andMe agrees to pay $30 million to settle a lawsuit related to the data

breach. Nearly all of the independent directors resign from the company's board after not

receiving a satisfactory offer from CEO Wojcicki.

November 2024: The firm cuts about 40%, or 200 employees, from its workforce and

discontinues the development of all its therapies as part of a restructuring program. 23andMe

also commences a strategic alternatives process for all in-house therapeutic programs.

January 2025: 23andMe reports total revenue of $60.3 million in the third quarter of its

fiscal year 2025, including $19.3 million from non-recurring research services under its deal

with GSK. As of December 31, 2024, the company reports cash and cash equivalents of $79.4

million.

March 2025: A special committee of 23andMe's board unanimously rejects CEO Wojcicki's latest

proposal to buy the company for 41 cents per share.

The firm files for bankruptcy later in the month, and Wojcicki resigns as CEO to participate

as an independent bidder during the bankruptcy process.

April 2025: A U.S. House committee asks 23andMe's co-founder to

testify

as it launched an investigation into the risk of genetic data being transferred to

potential buyers amid bankruptcy proceedings.

April 22, 2025: According to a court filing by national security agencies, 23andMe may

face

opposition from the U.S. government

if it tries to sell itself to a foreign buyer.

May 2025: Drugmaker Regeneron Pharmaceuticals says it will buy genetic testing

firm23andMe Holding for $256 million through a bankruptcy auction.

Regeneron to acquire all units of 23andMe, except Lemonaid Health, which the genetic

testing firm plans to wind down.