Anne Wojcicki Acquires 23andMe for $305 Million Through Nonprofit

Anne Wojcicki, the co-founder and former CEO of 23andMe, has agreed to acquire the genetic testing company through her nonprofit, TTAM Research Institute, for $305 million. This development marks a significant turn in the company's recent history, which has been marked by financial struggles and data privacy concerns.

The deal, announced late Friday, will see Wojcicki regain control of 23andMe's assets. Initially, it seemed unlikely that Wojcicki would regain control of the company she left in March. Regeneron Pharmaceuticals, a New York-based biotech company, was set to acquire 23andMe for $256 million. However, in the final round of bidding, Wojcicki's TTAM Research Institute emerged as the top bidder.

The sale of 23andMe, once valued at $6 billion, has raised concerns about the future of the customer genetic data it holds. Approximately 15% of its customers, some 1.9 million people, have requested their data be deleted from the company servers since 23andMe filed for bankruptcy in March. The sale has also attracted the attention of the House Oversight Committee, which was concerned about the potential destinations of the data.

TTAM Research Institute has assured that it will comply with 23andMe’s privacy policies and applicable law. The nonprofit has made binding commitments to create additional protections and privacy safeguards, including the establishment of a consumer-privacy advisory board. This move is aimed at addressing the data privacy concerns that have plagued 23andMe in recent years, particularly following a hack in 2023 that raised several concerns about the company's data security.

Wojcicki's tenure as CEO was marked by significant changes, including three rounds of layoffs and a strategic shift to transform 23andMe from a supplier of ancestral data into a healthcare company that develops drugs and sells subscription health reports. Despite these efforts, the company faced financial difficulties, leading to its bankruptcy filing in March.

Wojcicki first offered to buy the company in mid-2024, but her bid to take the company private was rejected by the 23andMe board. Following this rejection, the board members resigned en masse. The purchase of 23andMe by a group run by Wojcicki is likely to spark lawsuits. Earlier this year, an independent investor in 23andMe expressed disbelief that Wojcicki, whom he held responsible for allowing 23andMe’s valuation to plunge, could turn around and buy the company at a low price. The investor, who asked that his privacy be protected, questioned why there weren't other bids for the company.