Anne Wojcicki Regains Control of 23andMe After $305 Million Bankruptcy Bid

Anne Wojcicki, co-founder of 23andMe, is taking back control of the genetic testing company after winning a bankruptcy auction with a $305 million offer through her nonprofit, TTAM Research Institute.

This bid topped the $256 million offer from pharmaceutical company Regeneron and, if approved by the court, will cancel Regeneron's deal.

Wojcicki started 23andMe in 2006 to help people learn about their ancestry and health through DNA testing, FoxBusiness said.

She served as CEO until the company filed for Chapter 11 bankruptcy in March 2025, after facing challenges like rising competition, privacy issues, and a 2023 cyberattack.

To be eligible to bid on the company, Wojcicki stepped down from her role, later writing on X, "I have resigned as CEO... so I can be in the best position to pursue the company."

The new agreement gives Wojcicki and TTAM control of most of 23andMe's assets, including its Personal Genome Service, Lemonaid Health, and research services.

The company will now operate as a nonprofit, with a stronger focus on protecting customer data.

Mark Jensen, chair of the company's board, said Wojcicki is "well positioned to advance the company's founding vision" of giving people better access to their own genetic information. He added that the transition will help keep the original mission alive while rebuilding trust.

TTAM Agrees to Strict Privacy Rules in 23andMe Takeover

As part of the deal, TTAM must follow stricter privacy rules. These include keeping 23andMe's current options that let users delete their data or opt out of research.

All customers will get an email at least two business days before the deal closes, explaining how their data is protected and how they can take action if they choose.

In addition, TTAM will not be allowed to sell or share genetic data if it is ever sold again, unless the new buyer is based in the US and follows the same privacy standards.

A privacy advisory board will also be formed, and customers will get two years of free identity theft monitoring from Experian.

According to TechCrunch, the deal faces legal challenges. A group of 28 state attorneys general, led by New York's Letitia James, has filed an objection, warning that millions of people's personal data cannot be sold without consent.

A court privacy expert also questioned whether the company has the right to sell genetic data at all.

Wojcicki says her goal is to give people more control over their health and ancestry data. She wrote on LinkedIn, "We believe it is critical that individuals are empowered to have choice and transparency with respect to their genetic data."

Originally published on vcpost.com