23andMe Sells Business to TTAM Research Institute for $305M

23andMe has sold its Personal Genome Service and Research Services business lines and Lemonaid Health to TTAM Research Institute for $305M. The sale was the result of a bidding process between TTAM and Regeneron Pharmaceuticals. The transaction is subject to court approval and is expected to close in the coming weeks. TTAM has committed to complying with 23andMe's privacy policies and applicable law.

In a significant move, 23andMe Holding Co. (OTC: MEHCQ) has agreed to sell its Personal Genome Service (PGS) and Research Services business lines, along with the Lemonaid Health business, to TTAM Research Institute for $305 million. The sale, which is subject to court approval, is expected to close in the coming weeks. The transaction was the result of a competitive bidding process between TTAM and Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN).

The final round of bidding was conducted according to procedures approved by the U.S. Bankruptcy Court for the Eastern District of Missouri, allowing the Special Committee of 23andMe’s Board of Directors to maximize value for the company’s stakeholders. TTAM was selected as the winning bidder, with Regeneron as the backup bidder. The agreement includes provisions for TTAM to comply with 23andMe’s privacy policies and applicable laws, and to implement additional consumer protections and privacy safeguards.

Key commitments made by TTAM include honoring existing policies that allow individuals to delete their account and genetic data, notifying customers of TTAM’s role and privacy choices, restricting data transfer, establishing a Consumer Privacy Advisory Board, implementing privacy procedures, and offering two years of free Experian identity theft monitoring. TTAM also agreed to continue 23andMe’s policy of allowing de-identified data to be used for scientific and biomedical research.

Mark Jensen, Chair of the Board and member of the Special Committee of 23andMe’s Board of Directors, stated, "We are pleased that the competitive bidding process has resulted in significantly more value to our stakeholders while enhancing critical protections around customer privacy, choice, and consent with respect to their genetic data." Anne Wojcicki, founder of TTAM Research Institute, expressed her excitement about continuing 23andMe’s mission to empower individuals with their genetic data and contribute to scientific research.

The transaction remains subject to Bankruptcy Court approval and customary closing conditions. A Court hearing to consider the approval of the transaction is scheduled for June 17, 2025. Additional information regarding 23andMe’s Chapter 11 filing and claims process can be found at https://restructuring.ra.kroll.com/23andMe.

References:
[1] https://www.globenewswire.com/news-release/2025/06/13/3099302/0/en/23andMe-Reaches-Agreement-for-Sale-of-Business-to-TTAM-Research-Institute-Following-Final-Round-of-Bidding-in-Court-Approved-Sale-Process.html