Health

23andMe Founder Wojcicki Wins $305M Bankruptcy Auction

Published JUN 17 2025

Story

Above: Anne Wojcicki during a House Committee on Oversight and Government Reform hearing on June 10 in Washington. Image credit: Andrew Harnik/Getty Images

The Facts

Anne Wojcicki's nonprofit TTAM Research Institute won the bankruptcy auction for 23andMe with a $305 million bid, outbidding Regeneron Pharmaceuticals' $256 million offer after the court reopened the bidding process, a company spokesperson said Monday.
guardian
Axios
Wsj
The genetic testing company filed for Chapter 11 bankruptcy in March following declining revenue and a 2023 data breach that exposed the sensitive genetic information of approximately 7 million customers.
Huffington Post
FOX News
Intellizence
Regeneron Pharmaceuticals declined to submit a higher counterbid after seeing TTAM's final offer, with CEO Leonard Schleifer stating, "The juice isn't worth the squeeze" regarding the company's assessment of its remaining value.
ETPharma.com
Axios
Wsj
Twenty-seven U.S. states and the District of Columbia have filed a joint lawsuit to block the sale of genetic data without customer consent, arguing that biological data is too sensitive to be transferred without individual approval.
Los Angeles Times
Entrepreneur
TTAM committed to upholding 23andMe's existing privacy policies and implementing additional safeguards, including establishing a consumer privacy advisory board and providing customers with two years of free identity theft monitoring.
Fortune
FOX News
The deal requires court approval at a hearing scheduled for Tuesday. It would return control to Wojcicki, who co-founded the company in 2006 and stepped down as CEO in March to position herself as an independent bidder.
www.ft.com
Huffington Post
CNBC

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The Spin

Pro-establishment narrative

This acquisition is a victory for consumer privacy and data protection. Wojcicki's commitment to maintaining existing privacy policies and implementing new safeguards demonstrates a genuine concern for customer welfare. The nonprofit structure ensures the company won't be driven solely by profit motives, potentially providing better long-term protection for sensitive genetic data.

Investors

guardian

Establishment-critical narrative

The deal raises serious concerns about corporate accountability and data security. Wojcicki was CEO during the massive 2023 breach that compromised millions of accounts, yet she's now buying back the company at a fraction of its former value. This sets a troubling precedent where executives can benefit from their own failures.