Former 23andMe CEO Anne Wojcicki Secures Company's Future with $305M Winning Bid

In a dramatic turn of events for the embattled genetic testing company 23andMe, former CEO Anne Wojcicki has emerged victorious in a high-stakes bankruptcy auction. Her non-profit organization, TTAM Research Institute, placed a winning bid of $305 million, outpacing pharmaceutical giant Regeneron's previous offer of $256 million.

Auction Results and Implications

The auction, which concluded on June 16, 2025, marks a significant milestone in 23andMe's tumultuous journey since filing for Chapter 11 bankruptcy in March. Wojcicki's successful bid not only ensures the continuation of 23andMe's consumer genome services but also addresses growing public concerns about the fate of the company's vast trove of genetic data.

TTAM Research Institute's acquisition includes binding commitments to honor 23andMe's existing privacy policies and data safeguards. The deal allows individuals to maintain control over their genetic information, including the ability to delete their accounts and opt out of research participation.

"I am thrilled that TTAM Research Institute will be able to continue the mission of 23andMe to help people access, understand and benefit from the human genome," Wojcicki stated. She emphasized the importance of empowering individuals with choice and transparency regarding their genetic data.

Financial Considerations and Future Plans

The $305 million offer represents a significant increase from Wojcicki's initial attempt to take the company private last summer, which valued 23andMe at approximately $74 million. This substantial rise in valuation underscores the perceived value of the company's assets and data, despite its recent financial struggles.

23andMe's board chair, Mark Jensen, expressed satisfaction with the outcome, noting 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."

As part of the transition, 23andMe will begin its next chapter as a non-profit organization under TTAM's leadership. The deal is pending final court approval, with a hearing scheduled for June 17, 2025. Regeneron remains listed as the backup bidder, should any unforeseen complications arise.