GENETIC LOTTERY

Former 23andMe CEO Outbids Big Pharma to Regain Control of DNA Testing Firm

Anne Wojcicki regained control of the company she bankrupted after a $305 million bid.

Former 23andMe CEO Anne Wojcicki is set to regain control of the genetic testing firm she led to bankruptcy after outbidding a pharmaceutical company at an auction. The sale came on Monday after a nonprofit headed by Wojcicki, TTAM Research Institute, bid $305 million for control of the company, topping a $256 million offer from Regeneron Pharmaceuticals. Wojcicki had previously attempted to take 23andMe private on a number of occasions during her tenure as CEO but was repeatedly rejected by the board, eventually leading to the resignation of all independent directors. Once a pioneer in ancestry DNA testing, 23andMe filed for bankruptcy in March amid declining demand and fallout from a 2023 data breach that exposed sensitive genetic and personal data of millions. Approximately 15 percent of 23andMe customers have since closed their accounts and requested their DNA records be deleted, citing concerns about privacy protection after the company announced it was up for sale. While TTAM has so far pledged to uphold 23andMe’s privacy policies and comply with data protection laws, the sale has also drawn legal challenges, with New York and over two dozen states suing to block the potential transfer of customers’ private information. A court hearing to decide the future of the company is scheduled for June 17.