Anne Wojcicki’s nonprofit wins bid to acquire genetic testing company 23andMe
CNN
The California-based nonprofit founded by the former 23andMe CEO is set to close the $305 million deal in coming weeks.
A nonprofit led by Anne Wojcicki, the co-founder and former chief executive of 23andMe, won a bid to acquire the genetic testing company following its bankruptcy filing in March. Wojcicki’s California-based nonprofit, TTAM Research Institute, will purchase 23andMe for $305 million, according to a news release on Friday. It’s the final twist in the bidding war between TTAM and Regeneron Pharmaceuticals, which announced on May 19 that it would buy most of 23andMe’s assets for $256 million. The Wall Street Journal reported that New York-based Regeneron cited “its assessment of 23andMe’s remaining value” for not submitting a higher bid. 23andMe and Regeneron did not respond to CNN’s request for comment. Wojcicki stepped down from 23andMe on March 24, when the company filed for Chapter 11 bankruptcy. 23andMe’s struggles drew attention in September 2024 when all seven of the company’s independent directors resigned en masse, citing frustration with Wojcicki’s “strategic direction” and efforts to take the company private. In November 2024, 23andMe cut about 40% of its workforce, or roughly 200 employees, and discontinued developments of its therapies in a restructuring effort. 23andMe, which at one point was valued at $6 billion, has collected genetic data from 15 million customers through at-home DNA testing kits that used saliva samples.
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