Ross Law
2 min read
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A court has approved the $305m sale of 23andMe’s assets to a nonprofit led by its former CEO Anne Wojcicki, effectively putting her back in control of the bankrupt genetics company.
Regeneron initially acquired 23andMe for $256m, yet nonprofit TTAM Research Institute subsequently swooped in with a larger $305m bid for the company.
Under the sale, TTAM will acquire all 23andMe’s assets, including its Personal Genome Service (PGS) and Research Services business lines, as well as Lemonaid Health business.
Wojcicki said: “I am thrilled that TTAM will be able to build on the mission of 23andMe to help people access, understand and benefit from the human genome.
“As a non-profit, TTAM will be a champion of improving our knowledge of DNA – the code of life – for the public good, creating a resource to advance human health globally.”
23andMe once had a market cap of around $6bn. However, compounding factors in recent years, including a cyber breach in 2023 that led to significant legal issues, and difficulties in articulating a sustainable business model for the company, resulted in its value dipping to around $100m as its cash flows ran dry.
In January, 23andMe revealed that it was weighing future directions for the company in addition to a sale such as restructuring, asset sales and licensing. The notice was issued soon after the company reported weak Q3 results for the 2025 fiscal year, indicating that it only had around $80m in cash reserves.
As the company floundered, 23andMe’s board repudiated Wojcicki’s multiple attempts to take the company private. In March 2025, 23andMe filed for bankruptcy and Wojcicki resigned.
23andMe's board chair Mark Jensen said: "This approval marks a significant milestone in our court proceedings and solidifies the path forward to ensure that 23andMe’s founding mission of helping people access, understand and gain health benefits through greater understanding of the human genome lives on globally.
“We remain focused on completing the steps necessary to finalise the transaction in the weeks ahead so the company can move into its next chapter as a non-profit."
"Former 23andMe CEO regains company control as $305m sale to nonprofit approved" was originally created and published by Medical Device Network, a GlobalData owned brand.
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