Anne Wojcicki Reclaims 23andMe Through $305M Nonprofit Acquisition

Anne Wojcicki is taking back control of the genetic testing company she co-founded, marking a dramatic turn in 23andMe's turbulent recent history. Through TTAM Research Institute, a California-based nonprofit public benefit corporation she leads, Wojcicki has secured a definitive agreement to purchase nearly all of 23andMe's assets for $305 million, surpassing Regeneron Pharmaceuticals' $256 million bid.

The acquisition encompasses 23andMe's Personal Genome Service, its research services unit, and Lemonaid Health, the company's telehealth division. With a court hearing scheduled for June 17 and the transaction expected to close within weeks, Regeneron remains positioned as the backup bidder.

This development follows a series of challenges for 23andMe, including its March bankruptcy filing, a 40% workforce reduction, and the aftermath of a 2023 data breach affecting nearly 7 million users that resulted in a $30 million settlement. The company's troubles intensified last fall when all seven board members resigned amid strategic disagreements after Wojcicki expressed interest in taking the company private. Although a special committee initially rejected her acquisition proposal, Wojcicki strategically stepped down as CEO in early 2024 to position herself as an independent bidder.

"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," said Mark Jensen, chair of the board and member of the special committee of the board of directors of 23andMe. "As 23andMe's founder, Ms. Wojcicki is well positioned to advance the company's founding vision of helping people access, understand and gain health benefits through greater understanding of the human genome. We will work to complete the transaction quickly so that 23andMe can begin its next chapter as a nonprofit."

The agreement prioritizes customer privacy through expanded protections. TTAM will maintain existing rights for customers to delete accounts and genetic data while allowing indefinite opt-out from research. Customers will receive email notifications at least two business days before the sale closes, detailing their privacy options. Additional safeguards include restrictions on future data transfers, establishment of a Consumer Privacy Advisory Board within 90 days, annual privacy reports to Attorneys General, two years of complimentary Experian identity theft monitoring, and continued support for academic research using de-identified data.

"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 said. "We believe it is critical that individuals are empowered to have choice and transparency with respect to their genetic data and have the opportunity to continue to learn about their ancestry and health risks as they wish. The 23andMe community of consented individuals will also have the opportunity to be part of making novel genetic discoveries that improve our knowledge of DNA – the code of life – and the health and wellness of everyone. I remain committed to the 23andMe community and driving forward this mission. The future of healthcare belongs to all of us."

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