Anne Wojcicki is set to regain control of23andMeafter a $305 million bid from a nonprofit she controls topped Regeneron Pharmaceuticals’offer for the DNA-testing company in a bankruptcy auction.
Last month, Regeneronagreed to buythe firm for $256 milliontopping a $146 million bid from Wojcicki and TTAM Research Institute.
The deal is expected to close in the coming weeks after a court hearing currently scheduled for June 17, the company said on Friday.
Once a trailblazer in ancestry DNA testing,23andMefiled for bankruptcy in Marchseeking to sell its business at auction after a decline in demand and a 2023 data breach that exposed sensitive genetic and personal information of millions of customers.
TTAM said on Friday it would uphold23andMe’s existing privacy policies and comply with all applicable data protection laws.
Earlier this week, New York and more than two dozen other statessued23andMeto challenge the sale of its customers’ private information.
The US Bankruptcy Court for the Eastern District of Missouri oversaw the bidding process.
Regeneronhad saidit was willing to make a new bid, but wanted a $10 million breakup fee if Wojcicki’s bid is ultimately accepted.