Anne Wojcicki’s Nonprofit Tops Bid for 23andMe Assets

Anne Wojcicki, co-founder and former CEO of 23andMe, is set to regain control of the DNA-testing company after a nonprofit she controls, TTAM Research Institute, submitted a winning bid of $305 million for 23andMe’s assets, according to The Wall Street Journal.

The move comes after TTAM Research Institute’s unsolicited offer topped an earlier $256 million bid by biotech firm Regeneron during a bankruptcy auction. Regeneron declined to submit a higher counter-offer. The TTAM bid, financed by Wojcicki and affiliated entities, awaits court approval.

The Wall Street Journal reports that Wojcicki said she was “thrilled that TTAM Research Institute will be able to continue the mission of 23andMe to help people access, understand and benefit from the human genome.”

The development marks a potential comeback for Wojcicki, who had previously attempted to take the company private but was rejected by two different boards. The company filed for bankruptcy in March.

23andMe has historically struggled financially, never achieving profitability despite a valuation that briefly exceeded $6 billion in 2021. TTAM Research Institute has committed $84 million to cover the company’s expenses for the next 12 months.