News Summary

Anne Wojcicki, the co-founder and former CEO of 23andMe, is set to reacquire the genetic testing company through her nonprofit, TTAM Research Institute, for $305 million. The deal comes after 23andMe filed for Chapter 11 bankruptcy earlier this year following a significant cyberattack and a lawsuit settlement. Originally, Regeneron Pharmaceuticals was poised to acquire the company with a $256 million bid, but Wojcicki’s nonprofit won the bidding war with its higher offer. This acquisition still requires bankruptcy court approval and faces legal challenges, including a lawsuit from a coalition of 28 state attorneys general led by New York’s Letitia James, who expressed concerns over the sale of personal genetic data without consent. Wojcicki aims to maintain 23andMe’s privacy policies and establish a Consumer Privacy Advisory Board, emphasizing the empowerment of individuals regarding their genetic data.