Anne Wojcicki, cofounder and former CEO of 23andMe, will regain management of the corporate after her nonprofit, TTAM Analysis Institute, agreed to buy practically all of its belongings for $305 million.
In March, 23andMe filed for Chapter 11 within the U.S. Chapter Court docket for the Jap District of Missouri to facilitate a gross sales course of.
On the time, Wojcicki resigned from her position as CEO and Joe Selsavage, chief monetary and accounting officer, was named interim CEO by the board.
Throughout a chapter public sale final week, TTAM Analysis Institute outbid Regeneron Prescription drugs, which had beforehand introduced plans to buy 23andMe’s belongings for $256 million.
TTAM’s acquisition consists of 23andMe’s analysis companies, private genome service line, and its telehealth subsidiary, Lemonaid Well being. The deal stays topic to chapter court docket approval.
In an announcement, TTAM mentioned it should keep 23andMe’s present privateness insurance policies and client genome companies whereas additionally implementing enhanced client protections and knowledge privateness safeguards.
“I’m thrilled that TTAM Analysis Institute will be capable to proceed the mission of 23andMe to assist folks entry, perceive and profit from the human genome. We imagine it’s crucial that people are empowered to have alternative and transparency with respect to their genetic knowledge and have the chance to proceed to study their ancestry and well being dangers as they want,’ Wojcicki mentioned in an announcement.
“The 23andMe group of consented people will even have the chance to be a part of making novel genetic discoveries that enhance our information of DNA – the code of life – and the well being and wellness of everybody.”
THE LARGER TREND
23andMe went public in 2021 by a Particular Goal Acquisition Firm (SPAC) backed by Richard Branson. The buyer genetics firm’s inventory [NASDAQ: ME] reached a excessive of $320.80 per share in 2021 however is at present buying and selling at $4.22 per share.
23andMe reported its 2025 Q2 earnings, exhibiting complete income of $44 million within the second quarter of this 12 months in comparison with $50 million for a similar interval final 12 months.
The corporate mentioned the 12% lower was primarily resulting from decrease client companies income pushed by decrease PGS equipment gross sales and telehealth orders in addition to “decrease analysis companies income because the GSK collaboration unique discovery time period concluded in July 2023.”
It reported a internet lack of $59 million in Q2 2025 in comparison with a lack of $75 million within the second quarter of 2024 and an adjusted EBITDA lack of $33 million in Q2 2025 in comparison with a lack of $45 million in Q2 2024.
Working bills have been $84 million in Q2 of this 12 months in comparison with $101 million in Q2 2024.
In 2023, the corporate skilled a big knowledge breach, which affected roughly seven million of its customers. The breach uncovered consumer knowledge, together with ancestry data and a few health-related knowledge.
The info breach concerned a “credential stuffing” assault, which is a sort of cyberattack the place the attacker collects stolen account credentials, together with usernames and passwords, and makes an attempt to log in to different unrelated platforms.
The incident led to a class-action lawsuit and a proposed settlement of $30 million. The corporate reported a internet lack of $312 million that fiscal 12 months.
