US Edition23andMe to Reopen Bankruptcy Court Auction After Anne Wojcicki Group's ...
- 23andMe, a genetic testing company with a database of around 16 million users, filed for bankruptcy in March 2024 and is up for auction again in St. Louis.
- Anne Wojcicki, 23andMe's co-founder, contested the first auction after her nonprofit TTAM Research Institute's bid was capped at $250 million amid financial concerns, prompting a court to reopen bidding.
- The new bidding rules start with TTAM's $305 million offer, followed by Regeneron's counter of at least $315 million, with each side having a final chance to bid in the same auction.
- 23andMe suffered a 2023 data breach exposing information of about 6.9 million users, leading to a class action lawsuit and heightened concerns over privacy lacking federal protections, prompting officials to urge data deletion requests.
- Regeneron and TTAM both pledged to honor 23andMe's privacy policies and ethical use of genetic data, and the auction outcome will influence control over the sensitive DNA information of millions.
18 Articles
18 Articles
The rise and fall of 23andMe
23andMe announced a reverse stock split in October.Smith Collection/GadoA class action lawsuit, resignations, and layoffs plagued 23andMe, which filed for Chapter 11 in March.Biotech company Regeneron is buying the DNA testing startup's assets for $256 million.Here's a look at the rise and fall of 23andMe.23andMe, the startup that helped usher in the era of consumer DNA test kits nearly two decades ago, filed for bankruptcy protection in March a…
23andMe Sale Takes a New Turn
The sale of genetic testing company 23andMe—which includes genetic data from around 16 million customers—took a new turn at a hearing on Wednesday. A deal for Regeneron to buy the company for $256 million was announced last month , but bidding has now been reopened. Co-founder and former CEO...
23andMe Bankruptcy Saga: Founder Anne Wojcicki Makes Last-Minute Bid for DNA Data
The saga surrounding the once-hot DNA testing company 23andMe has taken another unexpected turn. Last month, biotech firm Regeneron purchased the company’s assets—including its genetic database of around 15 million users—for $256 million at a bankruptcy auction, seemingly closing the deal. However, a larger bid from Anne Wojcicki, 23andMe’s co-founder and former CEO, has prompted a second auction. At a court hearing in St. Louis, Mo. yesterday (…
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