Anne Wojcicki's non-profit, TTAM Research Institute, is set to purchase substantially all assets of 23andMe for $305 million after the company filed for Chapter 11 bankruptcy. The sale, approved by U.S. Bankruptcy Judge Brian C. Walsh, ends a bidding war with Regeneron Pharmaceuticals. The acquisition will include 23andMe’s Personal Genome Service and telehealth subsidiary, Lemonaid Health. Wojcicki intended for the company to operate better outside market pressures, which followed a tumultuous period marked by the resignation of independent directors from the board due to differing visions of the company's future.
Anne Wojcicki's non-profit TTAM Research Institute will purchase the majority of 23andMe's assets for $305 million after the company filed for Chapter 11 bankruptcy.
The deal includes 23andMe's Personal Genome Service, research operations, and Lemonaid Health, intended to continue the company's mission of genomic accessibility.
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