Founder of 23andMe buys back company out of bankruptcy auction
Concerns about transfer of genetic data to new company may now be moot.
Anne Wojcicki has been declared the winner of a bankruptcy auction for 23andMe, the genetics testing start-up she founded, prevailing over a rival bid from Regeneron Pharmaceuticals.
TTAM Research Institute, a non-profit public benefit company also founded by Wojcicki, won the auction with a $305 million bid for the 23andMe assets, which will not come with any company liabilities attached.
23andMe filed for bankruptcy in March after rejecting several go-private offers from Wojcicki in recent years. Regeneron was declared the winning bidder in May after the company accepted a $256 million bid in a previous auction.
