Anne Wojcicki will acquire 23andMe for $305 million after bankruptcy filing.

From Yahoo Finance: 2025-06-20 12:32:00

Anne Wojcicki, co-founder of 23andMe, will acquire the genetic testing company for $305 million through TTAM Research Institute after a bankruptcy filing. TTAM will take over assets like Personal Genome Service and Lemonaid Health, outbidding Regeneron Pharmaceuticals. Approval from the U.S. Bankruptcy Court is pending.

Founded in 2006, 23andMe’s popularity grew with at-home DNA testing kits. Going public in 2021, the company faced challenges with a subscription model and a cyberattack in 2023. Wojcicki’s bid follows her resignation as CEO in March and concerns from independent board members.

A lawsuit filed by 28 state attorneys general, led by New York’s Letitia James, raises privacy concerns over the sale of genetic data without explicit consent. A court-appointed privacy ombudsman and a House Oversight Committee hearing highlight potential privacy risks in the deal. TTAM plans to honor existing privacy policies.

Wojcicki expressed excitement over continuing 23andMe’s mission to empower individuals with genetic data transparency and choice. TTAM intends to uphold privacy policies, including the option for users to delete data and opt out of research. The deal’s closing will establish a Consumer Privacy Advisory Board within 90 days.

Read more: Wojcicki Reclaims 23andMe for $305M