Sale of 23andMe Will Go Forward

Anne Wojcicki's bid to buy 23andMe, the genetic testing company she cofounded nearly 20 years ago, has received the court greenlight. That means Wojcicki's nonprofit TTAM Research Institute will purchase "substantially all" of San Francisco-based 23andMe's assets for $305 million, reports the AP. The transaction—which arrives more than three months after 23andMe filed for Chapter 11 bankruptcy—is set to officially close in the coming weeks. "I am thrilled that TTAM will be able to build on the mission of 23andMe to help people access, understand, and benefit from the human genome," Wojcicki said in a statement Monday—later adding that, "the future of health care belongs to all of us."

The sale, which was approved by US Bankruptcy Judge Brian C. Walsh on Friday, marks the end of a monthslong bidding war between TTAM and Regeneron Pharmaceuticals—a biotech company that had previously agreed to buy most of 23andMe's assets for $256 million in May. But Wojcicki's nonprofit later topped that offer. Under the deal, TTAM will acquire 23andMe's signature "Personal Genome Service" provided through the company's saliva-based DNA testing kits—as well as research operations and its Lemonaid Health subsidiary, a telehealth services provider.

Now that Wojcicki's nonprofit will acquire 23andMe, it's unclear whether the co-founder will step back into the CEO seat. But despite stepping down from the top post months ago, Wojcicki has remained on the company's board throughout the bankruptcy process. In June, 27 states and the District of Columbia filed a lawsuit seeking to block the sale of personal genetic data by 23andMe without customer consent. And in a memorandum opinion outlining his approval 23andMe's sale to TTAM on Friday, Walsh acknowledged these states' objections to the acquisition—but noted many had since been resolved. Still, California, Kentucky, Tennessee, Texas, and Utah "remain actively opposed to the sale."

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TTAM will honor existing policies around consumer data, the company said, which includes allowing users to delete their data and "opt out" of research. All customers will be emailed at least two business days before the acquisition closes—with details on TTAM's privacy commitments and instructions on how to delete data or opt out of research, 23andMe said. The company added that TTAM will offer customers two years of Experian identity theft monitoring at no cost.