23andMe is won back by Anne Wojcicki and will become a nonprofit
The latest development in the world of genetic data firm 23andMe has caused quite a stir, as a nonprofit led by Anne Wojcicki, the co-founder and long-time CEO of the company, has emerged victorious in a bidding war to acquire most of 23andMe’s assets for a substantial sum of $305 million. This news, initially reported by the Wall Street Journal, has come as a surprise to many, especially considering that just a month ago, biotech giant Regeneron had announced its intention to purchase 23andMe for $256 million.
The agreement reached by 23andMe outlines a final bidding round between the Wojcicki-led nonprofit, known as the TTAM Research Institute, and Regeneron. This bidding process was carefully designed to ensure that the company’s board could secure the best possible deal for its shareholders. The outcome of this bidding war ultimately saw the nonprofit led by Anne Wojcicki emerge as the winner, securing the majority of 23andMe’s assets for a significant sum.
The acquisition by the TTAM Research Institute marks a new chapter for 23andMe, with Wojcicki at the helm of this nonprofit organization. The move signifies a shift in leadership and direction for the company, with Wojcicki’s vision and expertise likely to drive future developments in the field of genetic data and research.
As the dust settles on this latest development, the industry awaits with anticipation to see how the acquisition by the TTAM Research Institute will shape the future of 23andMe and the broader landscape of genetic research. With Wojcicki’s leadership and the resources of the nonprofit behind it, 23andMe is poised to make significant strides in the field of genetic data analysis and research.
Overall, this acquisition represents a significant milestone for 23andMe and sets the stage for exciting new opportunities and advancements in the field of genetic research. The industry will be watching closely to see how this new chapter unfolds and the impact it will have on the future of genetic data analysis and research.
