Anne Wojcicki, the founder of 23andMe, is poised to take back control of the company after a nonprofit she leads submitted a $305 million winning bid in a bankruptcy auction—surpassing Regeneron Pharmaceuticals’ $256 million offer.
Regeneron had initially agreed last month to acquire the struggling DNA-testing firm for $256 million, outbidding an earlier $146 million proposal from Wojcicki and the nonprofit TTAM Research Institute. The transaction is expected to close in the coming weeks, pending a court hearing scheduled for June 17, the company said on Friday.
23andMe, once a pioneer in consumer ancestry DNA testing, filed for bankruptcy in March following a drop in demand and a 2023 data breach that compromised sensitive personal and genetic data of millions of users.
TTAM said on Friday it would honor 23andMe’s current privacy policies and remain in compliance with all applicable data protection regulations.
Earlier this week, New York and over two dozen other U.S. states filed a lawsuit against 23andMe, aiming to block the sale of its customer data.
The bidding process was overseen by the U.S. Bankruptcy Court for the Eastern District of Missouri.
Regeneron had indicated it was prepared to raise its bid, but requested a $10 million breakup fee if Wojcicki’s offer was ultimately chosen.
The transaction aligns with 23andMe’s Privacy Statements, as TTAM has confirmed its commitment to uphold the company’s privacy policies and applicable laws. TTAM has agreed to handle all personal customer data according to the existing consents, privacy policies, terms of service, and notices in place, while maintaining security measures designed to safeguard that information.
TTAM has also made binding pledges to implement enhanced consumer protections and privacy safeguards, which include:
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Customer Data Rights: TTAM will maintain 23andMe’s current policies that allow users to delete their accounts and genetic data and permanently opt out of research participation.
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Customer Notification: All customers will be notified via email at least two business days prior to the transaction closing, with details on TTAM’s role, its commitment to privacy choices, and instructions on how to delete data or opt out of research—coordinated with 23andMe.
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Data Transfer Restrictions: Genetic data cannot be sold or transferred in any future bankruptcy or change of control, unless the recipient is a qualified U.S. entity that agrees to TTAM’s privacy commitments and all legal requirements.
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Privacy Advisory Board: TTAM will establish a Consumer Privacy Advisory Board within 90 days of closing.
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Privacy Procedures and Reporting: TTAM will adopt formal privacy procedures, notify users of any material policy changes, address data breaches, and prepare annual privacy reports for Attorneys General upon request.
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Identity Theft Monitoring: Customers will receive two years of free identity theft monitoring services from Experian.
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Research and Donations: TTAM will continue 23andMe’s policy of allowing de-identified data to be used by academic and nonprofit researchers and will refuse donations from individuals or entities in certain specified countries.
Once approved by the Court, the finalized agreement with TTAM will fully replace the previously announced acquisition agreement with Regeneron, which had proposed a $256 million purchase.
“We are pleased that the competitive bidding process has resulted in significantly more value to our stakeholders while enhancing critical protections around customer privacy, choice and consent with respect to their genetic data,” said Mark Jensen, Chair of the Board and member of the Special Committee of the Board of Directors of 23andMe. “As 23andMe’s founder, Ms. Wojcicki is well positioned to advance the Company’s founding vision of helping people access, understand and gain health benefits through greater understanding of the human genome. We will work to complete the transaction quickly so that 23andMe can begin its next chapter as a nonprofit.”
“I am thrilled that TTAM Research Institute will be able to continue the mission of 23andMe to help people access, understand and benefit from the human genome. We believe it is critical that individuals are empowered to have choice and transparency with respect to their genetic data and have the opportunity to continue to learn about their ancestry and health risks as they wish,” said Ms. Wojcicki. “The 23andMe community of consented individuals will also have the opportunity to be part of making novel genetic discoveries that improve our knowledge of DNA – the code of life – and the health and wellness of everyone. I remain committed to the 23andMe community and driving forward this mission. The future of healthcare belongs to all of us.”
The proposed deal remains subject to approval by the U.S. Bankruptcy Court and other customary closing conditions. A hearing is currently scheduled for June 17, 2025, and the transaction is expected to be finalized shortly thereafter.
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