Anne Wojcicki’s Nonprofit Moves to Acquire 23andMe Assets
In a significant turn for the beleaguered genetic testing company, 23andMe co-founder and former CEO Anne Wojcicki is set to reacquire the company’s assets. This development follows 23andMe’s filing for Chapter 11 bankruptcy protection earlier this year amid mounting financial and privacy challenges.
Wojcicki’s nonprofit public benefit corporation, TTAM Research Institute, announced on Friday, June 14, 2025, its agreement to purchase “substantially all” of 23andMe’s assets for $305 million.
This agreement emerged from a final round of bidding, where TTAM’s offer surpassed a $256 million bid from New York-based biotech firm Regeneron Pharmaceuticals. Wojcicki reportedly initiated this process with an unsolicited offer made earlier in the month.
A Troubled Journey for the DNA Pioneer
Known for its popular at-home genome testing kits, 23andMe once reached a valuation of approximately $6 billion. However, the company has consistently struggled to achieve profitability. Its challenges were severely compounded by a major data breach in late 2023, which exposed profile and ethnicity information belonging to millions of users. This security lapse led to a $30 million settlement in a lawsuit and significantly impacted public trust and popularity, contributing to the company’s financial decline and a plunge in its share price.
The company’s difficulties saw it reduce its workforce by 40% before filing for bankruptcy in March, at which point Wojcicki resigned as CEO.
Experts note that 23andMe’s business model heavily relied not just on kit sales, but on accumulating a vast database of customer genetic information to sell access to pharmaceutical companies and researchers. For instance, in 2018, GlaxoSmithKline paid $300 million for access to the data of 5 million customers, one of around 15 such partnerships. Critics argue this model, combined with a “move fast and break things” tech approach in the highly regulated healthcare space, created inherent conflicts and challenges, particularly regarding user data expectations.
Navigating the Complexities of Genetic Data Privacy
The bankruptcy proceedings raised significant concerns regarding the fate of the sensitive genetic and health data from over 15 million customers. Unlike other personal information, raw DNA data is unique and immutable; once compromised or shared, the associated risks are permanent.
While 23andMe offers options to delete data, privacy advocates highlight the difficulties in truly removing information, especially data already shared with third-party researchers or retained by laboratories for regulatory compliance (such as CLIA regulations, which may require data retention for up to three years). Data integrated into external research databases is unlikely to be retrievable or deletable by the user or 23andMe.
Recognizing these concerns, TTAM Research Institute has made binding commitments to uphold 23andMe’s existing privacy policies and applicable laws. Furthermore, the nonprofit has pledged additional consumer protections, including establishing a consumer privacy advisory board within 90 days of the deal’s closure, aiming to rebuild trust with customers.
The transaction, which signifies Wojcicki’s effort to take the company’s assets private under a nonprofit structure, is still subject to court approval. It is anticipated to close in the coming weeks. This move represents a pivotal moment for 23andMe, attempting to chart a new course amidst its recent history of financial strain and significant data privacy challenges.
