Anne Wojcicki is taking back control of 23andMe

23andMe co-founder and erstwhile CEO Anne Wojcicki is acceptable to bargain backmost the institution aft it filed for Chapter 11 bankruptcy extortion earlier this year. On Friday, 23andMe and TTAM Research Institute, a nonprofit nationalist payment corp tally by Wojcicki, announced successful a property merchandise that TTAM would beryllium buying “substantially each of the Company’s assets” for $305 million. 

As of past month, New York-based biotech institution Regeneron Pharmaceuticals was acceptable to bargain 23andMe for $256 million. But the caller acquisition statement with TTAM is “the effect of a last circular of bidding that occurred earlier contiguous betwixt TTAM and Regeneron Pharmaceuticals,” according to the release. Wojcicki made the “unsolicited offer” earlier this month, according to The Wall Street Journal.

23andMe is well-known for its at-home genome investigating kits, and astatine 1 constituent the institution was worthy astir $6 billion, according to CNBC. But it truthful acold has been incapable to crook a nett and dealt with a monolithic information breach in 2023. The institution paid $30 cardinal to settle a lawsuit implicit the breach past year. When 23andMe filed for bankruptcy in March, Wojcicki resigned as CEO.

TTAM volition comply with 23andMe’s “privacy policies and applicable law” and has made “binding commitments to follow further user protections and privateness safeguards,” including establishing a user privateness advisory committee wrong 90 days of the adjacent of the deal. The merchandise says the transaction is inactive taxable to tribunal support but is expected to adjacent “in the coming weeks.”