News Summary

Anne Wojcicki, the founder of 23andMe, has successfully regained control of the DNA testing company after her $305 million bid through the TTAM Research Institute, a nonprofit she controls, topped Regeneron Pharmaceuticals’ offer at a bankruptcy auction. This move comes after 23andMe faced financial difficulties, including a decline in demand and a significant data breach in 2023 that exposed sensitive genetic information of millions of customers. Wojcicki’s efforts to take the company private were previously rejected by the board, leading to the resignation of all its independent directors. The acquisition is expected to close following a court hearing. Wojcicki’s nonprofit has committed to maintaining 23andMe’s existing privacy policies amidst concerns over the transfer of customers’ genetic data.