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Genetic testing company 23andMe has agreed to sell itself to a nonprofit led by co-founder Anne Wojcicki.
After a cyberattack in 2023, 23andMe filed for bankruptcy in March. Former CEO Wojcicki resigned to bid for the company, but pharmaceutical company Regeneron made a $256 million offer.
Wojcicki’s nonprofit TTAM Research Institute made a higher bid of $305 million, leading to the acquisition announcement. Customers will be informed of the deal at least two days before closing, with privacy policies remaining intact.
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Approval from the bankruptcy court is still pending, facing legal challenges from state attorneys general objecting to the sale of genetic data without consent. A privacy ombudsman raised concerns about 23andMe’s privacy policies and consumer trust in light of the acquisition.
