Former 23andMe CEO Wins $305M Bid, Beats Regeneron

Anne Wojcicki, co-founder and current leader of the nonprofit TTAM Research Institute, has successfully outbid pharmaceutical company Regeneron to regain control of the bankrupt genetic testing company 23andMe with a $305 million offer. This deal includes 23andMe’s core genetic testing business, its research services, and the Lemonaid Health telehealth subsidiary. Wojcicki had previously stepped down as CEO when 23andMe filed for Chapter 11 bankruptcy earlier in the year. Regeneron had initially won an auction with a $256 million bid but declined to increase their offer beyond that amount, prompting Wojcicki's higher bid. Concerns had been raised about Regeneron's potential access to sensitive genetic data of over 14 million people, though both parties have committed to maintaining strict data privacy and protection policies following a significant data breach in 2023. The acquisition signals a return to Wojcicki’s vision to help people access and benefit from human genome insights.