Anne Wojcicki, the former CEO of 23andMe, is set to reclaim control of the company after her non-profit TTAM Research Institute won a bankruptcy auction with a $305 million bid, outbidding Regeneron Pharmaceuticals. This comes after 23andMe faced a decline in demand and a data breach exposing customer information, leading to significant customer loss. Critics, including more than two dozen states, have raised privacy concerns regarding the potential sale of sensitive genetic data. The sale's approval is pending a court hearing on June 17, effectively putting customer privacy back in the spotlight.
Anne Wojcicki's non-profit bid of $305 million has surpassed Regeneron Pharmaceuticals' offer of $256 million for the troubled genetic testing firm 23andMe.
23andMe's bankruptcy sale follows a decline in demand and a significant data breach that exposed personal information of millions of customers, prompting a loss of user trust.
Experts urge customers of 23andMe to request the deletion of their DNA data to protect their privacy, amid concerns of a potential sale of sensitive information.
The upcoming court hearing on June 17 will determine the fate of the sale, which has drawn legal challenges from New York and other states.
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