Anne Wojcicki Plans $305 Million Acquisition of 23andMe and Its Data Holdings

Anne Wojcicki, the co-founder and former CEO of 23andMe, has successfully regained control of the troubled genetic testing company. Her new nonprofit organization, TTAM Research Institute, outbid Regeneron Pharmaceuticals to acquire the majority of 23andMe’s assets for $305 million. This includes key business lines such as the Personal Genome Service and Research Services, along with the telehealth subsidiary, Lemonaid Health.

This victory comes after Wojcicki resigned as CEO when 23andMe filed for Chapter 11 bankruptcy protection earlier this year. Previously, Regeneron had announced plans to acquire most of 23andMe’s assets for $256 million after winning a bankruptcy auction. However, Wojcicki strategically submitted a separate bid of $305 million through TTAM and successfully advocated for a reopening of the auction.

The name TTAM reflects the initial letters of 23andMe, highlighting its connection to the genetic testing company. In her statement, Wojcicki expressed enthusiasm about TTAM’s ability to continue the mission of 23andMe, which focuses on enabling people to access, understand, and benefit from genomic information. The company gained fame through its at-home DNA testing kits, which provided insights into customers’ family histories and genetic profiles.

At its height, 23andMe was valued at around $6 billion after going public via a merger with a special purpose acquisition company in 2021. Despite its initial success, 23andMe struggled to generate consistent revenue and establish sustainable research and therapeutics operations post-IPO. The company faced significant challenges, including privacy concerns stemming from a data breach in 2023 that exposed the information of nearly seven million customers.

The acquisition by TTAM is still pending approval from the U.S. Bankruptcy Court for the Eastern District of Missouri.