**Anne Wojcicki** to Reclaim 23andMe After Bankruptcy Filing

In a surprising turn of events, Anne Wojcicki, the co-founder and former CEO of 23andMe, is set to repurchase the company. This move follows the gene-testing firm’s Chapter 11 bankruptcy declaration earlier this year, signaling a potential shift for the struggling business.

The Winning Bid

Following a final round of bidding, 23andMe has reached an agreement with TTAM Research Institute. The nonprofit public benefit corporation, also led by Wojcicki, will purchase the company’s assets for $305 million. This announcement came via a press release.

23andMe to be acquired by TTAM Research Institute, a nonprofit entity founded by 23andMe’s former CEO and co-founder Anne Wojcicki, for $305 million. 23andMe filed for bankruptcy earlier this year. https://t.co/oH3uY070wO

— The Verge (@verge) June 13, 2025

Wojcicki‘s bid trumped a prior offer from Regeneron Pharmaceuticals, a New York-based biotech firm, who had initially proposed $256 million. According to The Wall Street Journal, Wojcicki made an “unsolicited offer” earlier this month.

“TTAM will comply with 23andMe’s ‘privacy policies and applicable law’ and has made ‘binding commitments to adopt additional consumer protections and privacy safeguards.’”

—Press Release Statement

Despite initial successes, 23andMe has struggled financially. The company’s inability to turn a profit, coupled with a significant data breach in 2023, created challenges. The genetic testing market is predicted to reach $22.3 billion by 2028 (Market Research Future, 2024), indicating considerable growth potential in the industry.

The Road Ahead

23andMe, known for its at-home genome testing kits, once held a valuation of about $6 billion. However, the company’s financial woes led to bankruptcy in March, prompting Wojcicki’s resignation as CEO. TTAM has committed to consumer privacy safeguards, including a consumer privacy advisory board to be established within 90 days.

The transaction awaits court approval but is anticipated to conclude in the coming weeks, shaping the future of 23andMe under Wojcicki‘s leadership. The company paid $30 million to settle a lawsuit over the data breach last year.