Anne Wojcicki to buy back 23andMe and its data for $305 million

Anne Wojcicki, the co-founder and erstwhile CEO of 23andMe, has regained power implicit the embattled familial investigating institution aft her caller nonprofit, TTAM Research Institute, outbid Regeneron Pharmaceuticals, the institution announced Friday. 

TTAM volition get substantially each of 23andMe's assets for $305 million, including its Personal Genome Service and Research Services concern lines arsenic good arsenic telehealth subsidiary Lemonaid Health. It's a large triumph for Wojcicki, who stepped down from her relation arsenic CEO erstwhile 23andMe filed for Chapter 11 bankruptcy extortion successful March.

Last month, Regeneron announced it would acquisition astir of 23andMe's assets for $256 cardinal aft it came retired connected apical during a bankruptcy auction. But Wojcicki submitted a abstracted $305 cardinal bid done TTAM and pushed to reopen the auction. TTAM is an acronym for the archetypal letters of 23andMe, according to The Wall Street Journal.

"I americium thrilled that TTAM Research Institute volition beryllium capable to proceed the ngo of 23andMe to assistance radical access, recognize and payment from the quality genome," Wojcicki said successful a statement.

23andMe gained popularity due to the fact that of its at-home DNA investigating kits that gave customers penetration into their household histories and familial profiles. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a peculiar intent acquisition company. At its peak, 23andMe was valued astatine astir $6 billion.

The institution struggled to make recurring gross and basal up viable probe and therapeutics businesses aft going public, and it's been plagued by privateness concerns since hackers accessed the information of astir 7 cardinal customers successful 2023.

TTAM's acquisition is inactive taxable to support by the U.S. Bankruptcy Court for the Eastern District of Missouri.