Anne Wojcicki to buy back 23andMe and its data for $305 million

Anne Wojcicki, co -founder and former CEO of 23andme, has regained control of the besieged genetic test company after its new non -profit organization, TTAM Research Institute, overbid Regeneron Pharmaceuticalsbusiness announcement Friday.

TTAM acquires almost all of the assets of 23andm for $ 305 million, including its commercial services for service and research services on the personal genome as well as the Télésanté Lemonaid Health. It was a big victory for Wojcicki, who left his role as CEO when 23andm tabled for chapter 11 Bankruptcy protection in March.

Last month, Regeneron announced that it would buy most of the 23 and $ 23 and dollar assets after it was released during a bankruptcy auction. But Wojcicki submitted a separate offer of $ 305 million via TTAM and pushed to reopen the auction. Ttam is an acronym for the first letters of 23andme, according to The Wall Street Journal.

“I am delighted that the TTAM Research Institute is able to continue the mission of 23andm to help people access, understand and benefit from the human genome,” Wojcicki said in a statement.

23andme has gained popularity because of its home DNA test kits that gave customers an overview of their family stories and their genetic profiles. The fivefold CNBC Disruptor 50 business went public In 2021 via a merger with an acquisition company for special purposes. At its peak, 23andme was estimated at around $ 6 billion.

The company had trouble generating recurring income and presenting itself to viable research and therapeutic companies after being made public, and it has been prey to confidentiality problems since Pirates have accessed information nearly seven million customers in 2023.

The acquisition of TTAM is still subject to the approval of the American bankruptcy court for the Oriental district of Missouri.