Former 23andMe CEO regains ownership of bankrupt genetic testing company
16/06/2025 | The Guardian
The former CEO of genetic testing firm 23andMe, Anne Wojcicki, is set to regain control of the company after her non-profit, TTAM Research Institute, submitted a winning bid of $305 million in a recent bankruptcy auction. This offer exceeded a previous bid of $256 million from Regeneron Pharmaceuticals. Wojcicki secured additional backing from a Fortune 500 company to facilitate her increased offer. The deal, which follows multiple unsuccessful attempts by Wojcicki to take the company private while still CEO, is anticipated to close in the coming weeks, pending a court hearing scheduled for 17 June.
The development marks the latest twist in an ongoing saga involving the bankrupt company's fate. However, Bloomberg reports that the consumer privacy ombudsman charged with examining the impact of the sale on individuals has said the company should obtain additional consent from consumers before allowing the transfer of their biometric data.
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