Anne Wojcicki, co-founder and former CEO of 23andMe, is set to buy back the company’s assets through TTAM Research Institute, a nonprofit she runs, for $305 million. This move follows 23andMe’s Chapter 11 bankruptcy filing earlier this year. Initially, Regeneron Pharmaceuticals was slated to purchase 23andMe for $256 million, but Wojcicki’s higher unsolicited bid prevailed in a final bidding round. Known for at-home genome testing kits, 23andMe once had a valuation of about $6 billion but faced profitability challenges and a significant data breach in 2023, which led to a $30 million lawsuit settlement and Wojcicki’s resignation as CEO. TTAM commits to upholding privacy policies, adopting additional consumer protections, and establishing a consumer privacy advisory board within 90 days post-deal. The transaction awaits court approval and is expected to conclude soon.
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