23andMe Sells Business to TTAM Research Institute: Key Takeaways from the Court-Approved Final Bidding Process

23andMe has entered into an agreement to sell its assets to the TTAM Research Institute for $305 million. This includes key services like the Personal Genome Service and Lemonaid Health. The decision follows a competitive bidding process involving Regeneron Pharmaceuticals, wherein TTAM emerged as the highest bidder.

Mark Jensen, chair of 23andMe’s Board, expressed optimism about maximizing value for stakeholders while enhancing privacy protections for customers. TTAM’s commitment to these protections is crucial. They promise to uphold existing privacy policies, ensuring customers can delete their data and opt out of research.

TTAM will communicate directly with customers about their new role and privacy options before the sale closes. They will also establish a Consumer Privacy Advisory Board within 90 days after the deal is finalized. Additionally, TTAM plans to provide two years of free identity theft monitoring through Experian, which is a significant step in safeguarding customer data.

This transaction comes at a time when data privacy is increasingly under scrutiny. According to a survey by Pew Research Center, 79% of Americans are concerned about how their data is handled by companies. This growing awareness means that 23andMe’s focus on privacy is not just timely but essential in maintaining customer trust.

Anne Wojcicki, co-founder of 23andMe and leader of TTAM, emphasized the importance of individual choice and transparency regarding genetic data. The goal is to empower people to understand their genetic information better while contributing to scientific advancements.

The agreement is subject to approval from the Bankruptcy Court, with a hearing scheduled for June 17, 2025. If approved, this deal will replace an earlier agreement with Regeneron valued at $256 million.

As the transaction moves forward, it reflects broader trends in the healthcare and tech industries, where privacy and data security continue to be paramount concerns.



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