Former CEO Anne Wojcicki Plans Reacquisition of 23andMe

Anne Wojcicki, co-founder and former CEO of genetic testing company 23andMe, is set to regain control of the company through her nonprofit organization, TTAM Research Institute, which has outbid Regeneron Pharmaceuticals with a $305 million offer. This acquisition includes 23andMe's Personal Genome Service, Research Services, and telehealth subsidiary Lemonaid Health. The deal follows 23andMe's Chapter 11 bankruptcy filing earlier this year after struggling with profitability and a major data breach in 2023, which resulted in a $30 million lawsuit settlement. TTAM has committed to adhering to 23andMe's privacy policies and will implement additional consumer protections, including establishing a consumer privacy advisory board within 90 days of the deal’s closure. The transaction is pending court approval and is expected to close in the coming weeks. Wojcicki had stepped down as CEO upon the bankruptcy filing, and this reacquisition could reshape the DNA-testing market as demand for personalized medicine grows.