Ann Wojcitsi to buy back 23andme and his data for $ 305 million

Anne Wojchitsky, co -founder and former CEO of 23andme, regained control of the EmbatTled genetic test company after its new non -profit, TTAM Research Institut Regeneron Pharmaceuticalsthe company declared Friday.

TTAM will significantly acquire all 23andme assets for $ 305 million, including its business personal services for genome and research services, as well as Telehealth Lemonaid Health’s subsidiary. This is a great victory for Wojcicki who retired from his role as CEO when 23andme Filed for Chapter 11 Insolvency protection in March.

Last month, Regeneron announced that he would buy the greater part of the 23andme assets for $ 256 million after leaving the top of a bankrupt auction. But Wojcicki introduced a separate offer for $ 305 million through TTAM and insisted that he reopen the auction. TTAM is an abbreviation for the first letters of 23andme as per The Wall Street Journal.

“I am glad that the TTAM Research Institute will be able to continue the mission of 23andme to help people have access, understand and take advantage of the human genome,” Voychitsky says in a statement.

23andme gained popularity because of their DNA testing kits at home that gave customers an idea of ​​their family stories and genetic profiles. Five -time CNBC destroyer 50 company became publicly available In 2021, by merging with a special objective company. In its peak, 23andme was estimated at about $ 6 billion.

The company is struggling to generate repetitive revenue and to face viable research and therapist enterprises after publishing publicly and it has been struck by the fears of confidentiality since then Hackers have access to information of nearly seven million customers in 2023

The acquisition of TTAM is still subject to approval by the US bankruptcy court for the Eastern County of Missouri.