The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Anne Wojcicki to buy back 23andMe and its data for $305 million

by admin June 16, 2025
June 16, 2025
Anne Wojcicki to buy back 23andMe and its data for $305 million

Anne Wojcicki, the co-founder and former CEO of 23andMe, has regained control over the embattled genetic testing company after her new nonprofit, TTAM Research Institute, outbid Regeneron Pharmaceuticals, the company announced Friday.

TTAM will acquire substantially all of 23andMe’s assets for $305 million, including its Personal Genome Service and Research Services business lines as well as telehealth subsidiary Lemonaid Health. It’s a big win for Wojcicki, who stepped down from her role as CEO when 23andMe filed for Chapter 11 bankruptcy protection in March.

Last month, Regeneron announced it would purchase most of 23andMe’s assets for $256 million after it came out on top during a bankruptcy auction. But Wojcicki submitted a separate $305 million bid through TTAM and pushed to reopen the auction. TTAM is an acronym for the first letters of 23andMe, according to The Wall Street Journal.

“I am thrilled that TTAM Research Institute will be able to continue the mission of 23andMe to help people access, understand and benefit from the human genome,” Wojcicki said in a statement.

23andMe gained popularity because of its at-home DNA testing kits that gave customers insight into their family histories and genetic profiles. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a special purpose acquisition company. At its peak, 23andMe was valued at around $6 billion.

The company struggled to generate recurring revenue and stand up viable research and therapeutics businesses after going public, and it has been plagued by privacy concerns since hackers accessed the information of nearly seven million customers in 2023.

TTAM’s acquisition is still subject to approval by the U.S. Bankruptcy Court for the Eastern District of Missouri.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
What the S&P 500, VIX, and ARKK are Telling Us Now
next post
Starbucks moves to the next phase in its turnaround: Winning over employees

Related Posts

Judge says he must still approve sale of...

November 26, 2024

Dow tumbles 475 points, S&P 500 suffers worst...

April 15, 2024

FCC is investigating Disney and ABC for DEI...

March 29, 2025

Possible work stoppage at Canada’s two largest railroads...

August 20, 2024

Redbox set to close as DVD market withers...

July 13, 2024

Walmart hikes its outlook again as shoppers spend...

November 20, 2024

Small businesses are still hungry to hire, but...

April 8, 2024

E.l.f. Beauty to acquire Hailey Bieber skin care...

May 30, 2025

Walmart-backed fintech One introduces buy now, pay later...

April 25, 2024

Berkshire Hathaway employee wins $1 million in Warren...

March 27, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Is a Chinese chain’s blood orange cold brew the future of coffee in America?

      July 7, 2025
    • S&P 500 Earnings for 2025 Q1 — Still Overvalued

      July 7, 2025
    • Don’t Overlook This Lagging Industry; I Believe It’s Set To Explode!

      July 7, 2025
    • Trump dismisses Musk’s political ambitions as ‘ridiculous’ in sharp rebuke

      July 7, 2025
    • Israel hammers Houthis with airstrikes, rebels respond amid Red Sea flare-up

      July 7, 2025
    • Is a Chinese chain’s blood orange cold brew the future of coffee in America?

      July 7, 2025

    Categories

    • Business (1,284)
    • Politics (3,919)
    • Stocks (1,498)
    • Uncategorized (45)
    • World News (1,277)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved