23andMe Founder Anne Wojcicki Wins Bid to Buy Back Bankrupt Company
Anne Wojcicki, the visionary founder of personal genomics and biotechnology company 23andMe, is set to regain control of the firm following a successful bid in a bankruptcy auction. A nonprofit entity controlled by Wojcicki, the TTAM Research Institute, submitted the winning offer of $305 million to acquire the assets of the bankrupt DNA testing service.
This development marks a significant turning point for 23andMe, which filed for Chapter 11 bankruptcy in March 2025. The company’s financial distress stemmed from a decline in demand for its services and a major data breach in 2023 that compromised sensitive genetic and personal information for millions of users. The bankruptcy process aimed to facilitate a sale of the business under the supervision of the U.S. Bankruptcy Court for the Eastern District of Missouri.
Competitive Auction Leads to Founder’s Win
The auction process saw competitive offers for 23andMe’s assets. Regeneron Pharmaceuticals had previously agreed to acquire the company for $256 million. This initial offer surpassed an earlier $146 million bid made by Wojcicki and the TTAM Research Institute.
However, Wojcicki’s group ultimately prevailed with their substantially higher $305 million offer, securing the winning bid and positioning the company to return under the leadership of its founder via a nonprofit structure. Regeneron had indicated a willingness to submit a new bid contingent on a potential $10 million breakup fee if Wojcicki’s bid was accepted.
Privacy Commitments and Legal Challenges
Amidst the sale proceedings, the issue of customer data privacy remains paramount. The TTAM Research Institute has publicly stated its intention to uphold 23andMe’s existing privacy policies and ensure full compliance with all applicable data protection laws moving forward.
The bankruptcy sale has occurred alongside legal challenges. Earlier this week, the state of New York, joined by more than two dozen other U.S. states, filed a lawsuit against 23andMe. This legal action specifically contests the potential sale or use of its customers’ private information as part of the bankruptcy proceedings, highlighting the ongoing sensitivity surrounding the company’s vast trove of genetic data.
Path to Finalization
The acquisition process, managed as part of the 23andMe Holding Co. Chapter 11 bankruptcy case (Case Number 4:25-bk-40976) in the Missouri Eastern Court, is expected to finalize in the coming weeks. A court hearing to approve the sale is reportedly scheduled for June 17. This outcome brings the company back under the direct influence of its founder following a period marked by financial instability and significant privacy concerns triggered by the 2023 data breach.
