Anne Wojcicki's nonprofit TTAM Research Institute has received court approval to acquire 23andMe for $305 million. The company had previously filed for Chapter 11 bankruptcy, prompting Wojcicki’s bid. The transaction follows a bidding war, where TTAM surpassed Regeneron Pharmaceuticals’ offer. Under the agreement, TTAM will obtain 23andMe’s Personal Genome Service, research operations, and the Lemonaid Health telehealth subsidiary. Wojcicki has advocated for the company to become private, believing it would thrive outside the pressures of the public market.
Anne Wojcicki expressed excitement about the acquisition, stating, "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."
The deal involves TTAM acquiring 23andMe's Personal Genome Service, research operations, and its telehealth subsidiary, Lemonaid Health, which was initially set for winding down.
Wojcicki had aimed to take 23andMe private, asserting that it would perform better without market pressures after struggling since its public debut.
The sale finalized a bidding war where TTAM outbid Regeneron Pharmaceuticals, previously agreeing to purchase 23andMe's assets for $256 million.
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