Hustler Words – Anne Wojcicki, co-founder and former CEO of 23andMe, has orchestrated a stunning comeback. Her nonprofit, TTAM Research Institute, has secured a deal to acquire the bankrupt genetic testing giant for a hefty $305 million, surpassing a previous bid from Regeneron Pharmaceuticals. This unexpected twist follows 23andMe’s March bankruptcy filing, triggered by a significant cyberattack in 2023 and subsequent legal battles. Wojcicki’s resignation paved the way for her to independently bid for the company.
The acquisition, however, faces significant legal hurdles. A coalition of 28 state attorneys general, spearheaded by New York Attorney General Letitia James, has filed a lawsuit contesting the sale, arguing that 23andMe cannot sell millions of users’ genetic data without explicit consent. Concerns remain regarding the compatibility of 23andMe’s existing privacy policies with the sale, as highlighted by a court-appointed privacy ombudsman and the fact that 15% of customers requested data deletion post-bankruptcy. The deal also needs bankruptcy court approval.
Despite the legal challenges, TTAM assures customers that their privacy will be protected, promising continued adherence to 23andMe’s existing data deletion and research opt-out policies. Furthermore, they plan to establish a Consumer Privacy Advisory Board within 90 days of the acquisition’s closure. Wojcicki herself expressed enthusiasm on LinkedIn, emphasizing TTAM’s commitment to empowering individuals with control over their genetic information. The future of 23andMe, and the fate of its users’ sensitive data, hangs in the balance as this high-stakes legal battle unfolds. The acquisition, if approved, will undoubtedly reshape the landscape of genetic data privacy and research.
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