Regeneron founder, chairman and CEO Dr. Leonard Schleifer joins 'Squawk Box' to discuss the company's bid for 23andMe, privacy concerns over 23andMe's genetic data, importance of biotechnology ...

If regulators and consumer privacy advocates trust 23andMe’s current practices, there is little reason to doubt those of the acquirer, provided they comply with the same obligations.

Genetic testing company 23andMe never hit on a sustainable business model and went bankrupt. Now, it's being sold to a non-profit launched by the co-founder, delaying addressing data privacy concerns.