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Bankruptcy court OKs sale of genetics company 23andMe to co-founder

By: James Powel
USA Today

..... A bankruptcy judge approved the sale of genetic company 23andMe to a nonprofit led by co-founder and former CEO Anne Wojciki, according to a June 27 [2025] filing in the bankruptcy docket.
..... TTAM Research Institute is set to buy the company's Personal Genome Service, Research Service and Lemonaid Health business for $305 million after winning the final round of bidding to buy the genetics company out of bankruptcy, the company first announced in a June 13 [2025 news release.
..... "As 23andMe's founder, Ms. Wojcicki is well positioned to advance the Company's founding vision of helping people access, understand and gain health benefits through greater understanding of the human genome, Mark Jensen, Chair of the Board of 23andMe, said in the release. Wojcicki said in a June 30 [2025] news release that the nonprofit will continue the company's mission of understanding the human genome for "the public good."
..... The sale to TTAM replaces a $256 million bid for 23andMe by drug-maker Regeneron made in MAy. [2025]
..... "We are please that the competitive biding process has resulted in significantly more value to our stakeholders while enhancing critical protections around customer privacy, chose and consent with respect to their genetic data," Jensen said.
..... Twenty-seven states and the District of Columbia used in federal court to block the sale in June, [2025] even though the pharmaceutical company promised to adhere to 23andMe's existing privacy policy, saying it would "prioritize the privacy, security and ethical use of 23andMe's customer data."
..... The lawsuit alleged that a sale to Regeneron would violate privacy laws in the individual states.
..... 23andMe said in the June 13 [2025] news release that TTAM would continue the policy of allowing users to delete their accounts and genetic data as well as opt out of research in perpetuity.
..... At the same time, TTAM will continue to allow de-identified data to be sued for scientific and biomedical research to research scholars at academic universities and other nonprofits accounting to the release.
..... TTAM was to establish a consumer privacy advisory board within 90 days of the sale closing and customers were to be emailed at least two busies days before the close of the sale with instructions on how to delete data or opt out of research.

..... Contributing: Mary Walrath-Holdridge, USA Today; Reuters

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