Anne Wojcicki is about to regain management of 23andMe after a nonprofit she controls topped Regeneron Prescription drugs’ bid for the DNA-testing firm for $305 million as a part of a chapter public sale.
Final month, Regeneron agreed to purchase the agency for $256 million, topping a $146 million bid from Wojcicki and TTAM Analysis Institute.
“The agreement with non-profit TTAM Research Institute is the result of a final round of bidding that occurred earlier today between TTAM and Regeneron Pharmaceuticals,” the corporate mentioned in an announcement.
South San Francisco, Calif.-based 23andMe filed for chapter in March, searching for to promote its enterprise at public sale after a decline in shopper demand and a 2023 information breach that uncovered delicate genetic and private info of tens of millions of shoppers.
23andMe, as soon as a trailblazer in ancestry DNA testing, has additionally confronted dwindling demand for its core providers.
