Anne Wojcicki’s Nonprofit Wins $305 Million Bid to Acquire 23andMe Following Bankruptcy
A nonprofit organization led by Anne Wojcicki, co-founder and former CEO of genetic testing company 23andMe, has successfully secured the acquisition of the company after it filed for bankruptcy in March.
Wojcicki’s California-based TTAM Research Institute agreed to purchase 23andMe for $305 million, surpassing a competing bid from Regeneron Pharmaceuticals, which had offered $256 million. Regeneron declined to raise its offer, stating its assessment of 23andMe’s remaining value did not justify a higher bid.
The sale marks the conclusion of a bidding contest following 23andMe’s Chapter 11 filing earlier this year. Wojcicki resigned as CEO on March 24, coinciding with the bankruptcy announcement. The company had faced significant challenges, including the mass resignation of its independent board members in September 2024, who expressed dissatisfaction with Wojcicki’s strategic approach and plans to take the company private. In November 2024, 23andMe reduced its workforce by about 40%, cutting roughly 200 jobs, and halted development of its therapeutic programs as part of its restructuring efforts.
Once valued at $6 billion, 23andMe had amassed genetic data from over 15 million customers through its saliva-based DNA testing kits, which provided personalized genetic insights on ancestry and health risks. However, the company struggled to convert one-time purchasers into long-term subscribers, contributing to its financial difficulties.
The bankruptcy raised concerns about the privacy of customers’ genetic information. A coalition of 27 states and the District of Columbia filed a lawsuit seeking to prevent the sale of genetic data without explicit customer consent. Genetic data is valuable for companies looking to personalize products, advertising, or develop targeted medicines, but the use of such information remains lightly regulated aside from protections against discrimination in health insurance and employment under the Genetic Information Nondiscrimination Act.
TTAM has pledged to uphold 23andMe’s existing privacy policies and respect customer rights related to data deletion and opting out of research participation. In a statement, Wojcicki expressed her enthusiasm for continuing the company’s mission to empower individuals with access to and understanding of their genetic information.
“We believe it is critical that individuals are empowered to have choice and transparency with respect to their genetic data and have the opportunity to continue to learn about their ancestry and health risks as they wish,” she said.
The acquisition includes most of 23andMe’s assets, such as its personal genome service, research services, and Lemonaid Health, a telehealth service acquired by 23andMe in 2021.
