Anne Wojcicki regains 23andMe’s management with a $305 million bankruptcy bid
Rep. James Commer, R-KY. , 23andME data privacy concerns, his invitation to testify in front of lawmakers by the Sanctuary Governor, and whether NPR and PB should strip the funds.
Anne Wojcicki, co-founder of 23AndMe She plans to regain control of her DNA testing company after a nonprofit that manages rivals in bankruptcy auctions.
TTAM Research Institute, a California-based non-profit public benefits corporation led by Wojcicki, has acquired a substantial sale of 23AndMe Holding Co. assets, including Personal Genome Service (PGS) and Remonaid Health Business.
Once approved by the court, the decisive agreement with TTAM will void previously announced acquisition and underlying asset purchase agreements with Regeneron, the DNA testing company announced.
23AndMe founder Anne Wojcicki testifies on June 10, 2025 at Capitol Hill in Washington, DC before the House Oversight Committee on Privacy Concerns Surrounding 23andMe Bankruptcy Sales and the Protection of American Private Genetic Data. (Ting Shen/AFP via Getty Images/Getty Images)
23AndMe Bankruptcy: Will your private data be protected?
Wojcicki co-founded the company in 2006, three years after the first human genome was sequenced, helping people learn about their ancestors. She sat at the helm until the company applied. Chapter 11 Bankruptcy In March.
As part of the bankruptcy protection procedure, the genetic testing company searched for a new owner. Wojcicki deliberately resigned, allowing her to be in a better position to bid on ownership of the previous company.
“I support the company and I intend to become a bidder. I have resigned as CEO of the company, so I can be in the best position to pursue the company as an independent bidder.”
Anne Wojcicki, CEO and co-founder of 23andMe Inc., will speak at the 2020 manufacturers conference held in Los Angeles, California, USA on Tuesday, February 11th, 2020. (Getty Images/Kyle Grillo via Getty Images/Bloomberg)
Despite the company’s bankruptcy, Mark Jensen, chairman of the board and member of the 23andMe board’s special committee, praised Wojcicki, saying that he is “in a position to advance the company’s vision of starting a company to help people access, understand and gain health benefits through a deeper understanding of the human genome.”
23AndMe files are file for bankruptcy as California AG encourages customers to delete data
23AndMe will begin its next chapter as a nonprofit organization. TTAM has also agreed to enhance protections for customer data and privacy and adopt additional privacy safeguards as part of its transaction.
Under the agreement, TTAM honors 23AndMe’s existing policy that allows individuals to delete their accounts and genetic data and remove research opt-outs.
Additionally, all customers will be emailed at least two business days prior to the transaction regarding details of the role of TTAM and commitment to privacy choices. The email also includes instructions on how to delete your data and how to opt out of investigations.
23AndMe will begin its next chapter as a nonprofit organization. (Smith Collection/Gad/Getty Images/Getty Images)
TTAM also agreed not to sell or share genetic data if the company goes bankrupt or changes its ownership, unless the new owner is a US-based organization that follows the same privacy rules and follows all laws.
TTAM will establish a Consumer Privacy Advisory Committee, implement privacy procedures, inform clients of material changes, mitigate data breaches, and make available to lawyer generals on demand.
Customers will also receive 2 years of free Experian Identity Theft Monitoringaccording to the terms of the transaction.
Click here to get your Fox business on the go
Meanwhile, TTAM uses 23andMe’s policy to enable identified data to be used for scientific and biomedical research by research scholars from academic universities and other nonprofit organizations. They also refuse to give away from individuals or businesses in a particular country.