Anne Wojcicki, cofounder and former CEO of 23andMe, will regain management of the corporate after her nonprofit, TTAM Analysis Institute, agreed to buy practically all of its property for $305 million.
In March, 23andMe filed for Chapter 11 within the U.S. Chapter Court docket for the Jap District of Missouri to facilitate a gross sales course of.
On the time, Wojcicki resigned from her function as CEO and Joe Selsavage, chief monetary and accounting officer, was named interim CEO by the board.
Throughout a chapter public sale final week, TTAM Analysis Institute outbid Regeneron Prescription drugs, which had beforehand introduced plans to buy 23andMe’s property for $256 million.
TTAM’s acquisition contains 23andMe’s analysis companies, private genome service line and telehealth subsidiary, Lemonaid Well being. The deal stays topic to chapter court docket approval.
In an announcement, TTAM mentioned it can preserve 23andMe’s present privateness insurance policies and client genome companies whereas additionally implementing enhanced client protections and knowledge privateness safeguards.
“I’m thrilled that TTAM Analysis Institute will be capable to proceed the mission of 23andMe to assist folks entry, perceive and profit from the human genome. We consider it’s important that people are empowered to have selection and transparency with respect to their genetic knowledge and have the chance to proceed to find out about their ancestry and well being dangers as they want,” Wojcicki mentioned in an announcement.
“The 23andMe group of consented people may also have the chance to be a part of making novel genetic discoveries that enhance our data of DNA – the code of life – and the well being and wellness of everybody.”
THE LARGER TREND
23andMe went public in 2021 by means of a Particular Function Acquisition Firm (SPAC) backed by Richard Branson. The buyer genetics firm’s inventory [NASDAQ: ME] reached a excessive of $320.80 per share in 2021 however is at the moment buying and selling at $4.22 per share.
23andMe reported its 2025 Q2 earnings, displaying whole income of $44 million within the second quarter of this yr in comparison with $50 million for a similar interval final yr.
The corporate mentioned the 12% lower was primarily attributable to decrease client companies income pushed by decrease PGS package gross sales and telehealth orders in addition to “decrease analysis companies income because the GSK collaboration unique discovery time period concluded in July 2023.”
It reported a web lack of $59 million in Q2 2025 in comparison with a lack of $75 million within the second quarter of 2024 and an adjusted EBITDA lack of $33 million in Q2 2025 in comparison with a lack of $45 million in Q2 2024.
Working bills had been $84 million in Q2 of this yr in comparison with $101 million in Q2 2024.
In 2023, 23andMe skilled a major knowledge breach, which affected roughly seven million of its customers. The breach uncovered person knowledge, together with ancestry data and a few health-related knowledge.
The information breach concerned a “credential stuffing” assault, which is a kind of cyberattack the place the attacker collects stolen account credentials, together with usernames and passwords, and makes an attempt to log in to different unrelated platforms.
The incident led to a class-action lawsuit and a proposed settlement of $30 million. The corporate reported a web lack of $312 million that fiscal yr.
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