A non-profit organization led by 51-year-old co-founder and former CEO of genetic testing startup 23andme is a new buyer for the assets of 23andme.
23andme Stated on friday Wojcick’s non -profit organization was its new buyer, with a bid of $ 305 million. After the first letters of 23andme, a non -profit called TTAM, after the filed their bankruptcy in March, won a bid to acquire startups on Friday.
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TTAM has replaced Biotech company Regenron as 23andme buyers. Last month, Regenronon won the bid to buy 23andme for $ 256 million during the insolvency auction. Wojcicki re -opened the bid with the proposal via TTAM earlier this month – and won.
Regoron told CNN trade It decided that to top the TTAM’s proposal, “Based on our assessment of the remaining value of 23andme” decided to “. The TTAM’s bid still needs to be approved by the bankruptcy court before it becomes official. A hearing is scheduled for Tuesday.
The dialect also faces legal obstacles. Twenty -seven US to American and Colombia District A joint suit filed Last week to block the sales of genetic data by 23andme without approval from customers. The case, led by Attorney General Lateitia James, New York, alleges that biological data is very sensitive to be sold without each individual consent.
“23andme cannot auction personal genetic information of millions without their consent,” James said In a press release,
23andme customers use salivary-based test kits to learn more about their genetic history and test their DNA to connect with relatives. The company has collected DNA samples from the over 15 million people,
About two million 23andme customers, or 15%, have removed their genetic data from the 23andme database since March. The Wall Street Journal,
23andme founder Anne Wojikki. Photo by Andrew Harnik/Getty Image
Wojcicki co-established 23andme in 2006 and submitted several unsuccessful proposals to buy the company as CEO, One in July 2024 And Another in FebruaryThis would give the company a price of $ 74.7 million.
He stepped as CEOs in March, as the company had filed for bankruptcy, one said in one. X post At a time when he resigned to be “the best position” to bid for the company’s ownership.
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Faced 23andme A significant decline After massive data violations in 2023, the market value that compromised the data of seven million users. The incident reduced the consumer trust and reduced the demand for 23andme’s genetic testing products. In September, 23andme agreed to settle the case related to violation $ 30 million,
Startup has difficulty finding a profitable business model. Customers use 23andme kits once and do not need to order each other Roots,
In November, 23andme closed 40%of its workforce, or about 200 people.
Startup, which became public in one $ 3.5 billion Evaluation in 2021 was worth around $ 110 million At the time of writing.
