Anne Wojcicki's nonprofit gets court approval to buy 23andMe for $305 million

NEW YORK – Anne Wojcicki's bid to bargain 23andMe, the familial investigating institution she cofounded astir 20 years ago, has received the tribunal greenlight.

That means Wojcicki's nonprofit TTAM Research Institute volition acquisition “substantially all” of San Francisco-based 23andMe's assets for $305 million. The transaction — which arrives much than 3 months aft 23andMe filed for Chapter 11 bankruptcy — is acceptable to officially adjacent successful the coming weeks.

“I americium thrilled that TTAM volition beryllium capable to physique connected the ngo of 23andMe to assistance radical access, recognize and payment from the quality genome," Wojcicki said successful a connection Monday — aboriginal adding that, "the aboriginal of wellness attraction belongs to each of us.”

The sale, which was approved by U.S. Bankruptcy Judge Brian C. Walsh connected Friday, marks the extremity of a monthslong bidding warfare betwixt TTAM and Regeneron Pharmaceuticals — a biotech institution that had antecedently agreed to bargain most of 23andMe's assets for $256 million successful May. But Wojcicki’s nonprofit aboriginal topped that offer, winning the last circular of bidding held past month.

Under the deal, TTAM volition get 23andMe's signature “Personal Genome Service" provided done the company's saliva-based DNA investigating kits — arsenic good arsenic probe operations and its Lemonaid Health subsidiary, a telehealth services supplier that 23andMe previously planned to upwind down.

Wojcicki had worked to instrumentality 23andMe backstage for immoderate time. With the institution struggling to find a profitable concern exemplary since going nationalist successful 2021, she's maintained that it would run amended extracurricular marketplace pressures. But that endeavor proved to beryllium tumultuous — notably successful September of past year, erstwhile all of 23andMe’s autarkic directors resigned from its board citing a “clear” quality of sentiment with Wojcicki connected the company’s aboriginal pursuing drawn-out negotiations.

Leading up to 23andMe's March bankruptcy filing, consequent efforts from Wojcicki to get the institution were unsuccessful. And erstwhile 23andMe filed for Chapter 11 successful precocious March, Wojcicki resigned arsenic CEO — noting astatine the clip that she was stepping down to beryllium “in the champion position” arsenic an autarkic bidder.

Now that Wojcicki's nonprofit volition get 23andMe, it's unclear whether the co-founder volition measurement backmost into the CEO seat. But contempt stepping down from the apical station months ago, Wojcicki has remained connected the company's committee passim the bankruptcy process.

Beyond fiscal strains starring up to 23andMe's bankruptcy, privateness concerns related to customers’ familial accusation besides emerged — dating backmost to adjacent earlier the bankruptcy process with a 2023 information breach. But interest what caller ownership could mean for 23andMe users’ idiosyncratic data has bubbled up successful caller months. The familial investigating concern had astir 13 cardinal customers astatine the clip of its merchantability hearing, tribunal documents note.

In June, 27 states and the District of Columbia filed a lawsuit seeking to artifact the merchantability of idiosyncratic familial information by 23andMe without lawsuit consent. And successful a memorandum sentiment outlining his support 23andMe's merchantability to TTAM connected Friday, Walsh acknowledged these states' objections to the acquisition — but that noted galore had since been resolved. Still, California, Kentucky, Tennessee, Texas, and Utah “remain actively opposed to the sale."

In a connection to Politico connected Monday, California Attorney General Rob Bonta's bureau maintained that 23andMe's merchantability “does not comply” with familial privateness instrumentality successful the authorities — and said it was “disappointed” with the court's approval, adding that it was evaluating adjacent steps.

The Associated Press reached retired to Bonta's bureau and 23andMe for further comments connected Tuesday.

When announcing its intended merchantability to Wojcicki’s nonprofit last month, 23andMe confirmed that TTAM “has affirmed its commitment” to comply with the institution privateness policies and applicable law. That means TTAM volition grant existing policies astir user data, the institution said, which includes allowing users to delete their information and “opt out” of research.

All customers volition beryllium emailed astatine slightest 2 concern days earlier the acquisition closes — with details connected TTAM’s privateness commitments and instructions connected however to delete information oregon opt retired of research, 23andMe said. The institution added that TTAM volition connection customers 2 years of Experian individuality theft monitoring astatine nary cost.

23andMe reiterated those privateness policies connected Monday. And Wojcicki added that, “Core to my beliefs is that individuals should beryllium empowered to person prime and transparency with respect to their familial information and person the accidental to proceed to larn astir their ancestry and wellness risks arsenic they wish."

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