Former CEO Anne Wojcicki Wins $305M Bid to Reclaim 23andMe

Anne Wojcicki, co-founder and former CEO of 23andMe, has regained control of the genetic testing company through her nonprofit, TTAM Research Institute, with a winning bid of $305 million in a bankruptcy auction that outbid pharmaceutical company Regeneron. The acquisition, pending bankruptcy court approval, includes most of 23andMe's assets such as its Personal Genome Service, Lemonaid Health, and research services, and will see the company operate as a nonprofit with enhanced data privacy protections. This transition aims to uphold the company’s founding mission of empowering individuals with access to their genetic information while addressing past challenges including privacy concerns, competition, and a 2023 cyberattack. Despite Wojcicki’s assurances to maintain and strengthen consumer privacy policies, legal challenges remain as several states have sued to block the sale, and consumer groups have raised concerns about the sensitivity of the DNA data of 15 million customers. TTAM has committed to stricter privacy rules, such as allowing users to delete data or opt out of research, prohibiting genetic data sales to entities not adhering to U.S. privacy standards, and providing customers with identity theft monitoring. The court hearing to approve the purchase is forthcoming, amid ongoing scrutiny over the handling and future of consumers’ highly sensitive genetic data.