The future of its vast DNA data began to unfold after the bankruptcy court approved the sale of 23AndMe’s assets to a nonprofit led by company co-founder and former CEO Anne Wojcicki. Wojcicki’s TTAM Institute won the auction for buying a genetic database, beating Regeneron Pharmaceuticals for a $305 million bid. The sale is expected to end after July 8, according to a memo sent by 23andme to current and former customers, marking the end of the chapter that the company began when it filed for Chapter 11 bankruptcy in March.
Wojcicki launched TTAM earlier this year, with a specific goal of retaining 23AndMe’s genetic data in the hands of third parties such as Biotech Firm Regeneron, which will bid for $256 million for the company’s assets. Given the sensitivity of the data, 29 countries opposed the transfer by filing a joint lawsuit in April.
Although TTAM’s website remains naked, 23andme’s customer memo describes its mission as “continuous”[ing] Innovative research and scientific discoveries are at the heart of 23AndMe, while amplifying its actions in active medical research and educational activities to enable individuals to understand their genome and promote our understanding of human health. ”
Where did Wojcicki come from – Where did she go
Wojcicki co-founded 23andMe in 2006 with Linda Avey and Paul Cusenza. In 2021, she made the company public through a reverse merger with Special Purpose Acquisition Company (SPAC). Just two years later, the data breach damaged the genetic information of 7 million users. In 2024, Wojcicki tried to privatize the company after a 98% market cap decline, but the board rejected the move.
TTAM has committed to maintaining 23AndMe’s existing privacy standards, but concerns about data security are still widespread. 23andme emphasized in its customer memorandum: “TTAM is legally obliged to maintain and commemorate the privacy policy, user consent and data protection measures adopted by 23andme.” Customers can still choose to exit the research or permanently delete their data.
Although TTAM is structured as a nonprofit, some experts remain skeptical. Erika Gray, pharmacist and founder of Toolbox Genomics, pointed out Wojcicki’s history. “When a company opens or brings private equity, users often become trivial, with the focus on the success and growth of the company,” she told Observer.
Earlier this year, Nucleus Genomics considered a bid for the 23AndMe asset, but eventually chose to exit. Unlike 23AndMe, Nucleus complies with HIPAA standards to maintain all its health data. TTAM has acknowledged that it plans to continuously improve its privacy policy over time.
In addition to TTAM, Wojcicki has been involved in commercial real estate reconstruction in Los Altos, California, and through the joint venture with her ex-husband, Google co-founder Sergey Brin, and commercial real estate reconstruction in philanthropy. The foundation has made extensive contributions to Parkinson’s research and Jewish-American humanitarian assistance.
