TechCrunch reports that 23andMe has been acquired by co-founder and former CEO Anne Wojcicki's nonprofit TTAM Research Institute for $305 million after leading U.S. biotechnology firm Regeneron Pharmaceuticals, which was initially reported to purchase the firm for $256 million, refused to challenge the bid.
All 23andMe clients at least two business days before the acquisition deal, which will still be evaluated by the bankruptcy court, is finalized, according to TTAM, which emphasized its commitment to adhere to the genetic testing firm's existing privacy policies, as well as the creation of a Consumer Privacy Advisory Board within three months of the agreement's approval. "We believe it is critical that individuals are empowered to have choice and transparency with respect to their genetic data and have the opportunity to continue to learn about their ancestry and health risks as they wish," said Wojcicki in a post on LinkedIn. Such a development comes as New York State Attorney General Letitia James and over two dozen other state attorneys general moved to block the sale of 23andMe data in a lawsuit.
All 23andMe clients at least two business days before the acquisition deal, which will still be evaluated by the bankruptcy court, is finalized, according to TTAM, which emphasized its commitment to adhere to the genetic testing firm's existing privacy policies, as well as the creation of a Consumer Privacy Advisory Board within three months of the agreement's approval. "We believe it is critical that individuals are empowered to have choice and transparency with respect to their genetic data and have the opportunity to continue to learn about their ancestry and health risks as they wish," said Wojcicki in a post on LinkedIn. Such a development comes as New York State Attorney General Letitia James and over two dozen other state attorneys general moved to block the sale of 23andMe data in a lawsuit.
