Overview

• TTAM Research Institute, founded by Anne Wojcicki, topped Regeneron’s $256 million bid with a $305 million offer to acquire 23andMe’s assets.
• Regeneron has indicated it may submit a higher bid but is seeking a $10 million breakup fee if its earlier agreement is overturned.
• The auction covers over 15 million direct-to-consumer DNA profiles collected through 23andMe’s saliva-testing kits.
• 23andMe filed for bankruptcy in March following a drop in consumer demand and a 2023 breach that exposed data of roughly 7 million users.
• U.S. lawmakers have raised alarms that genetic data could fall into unscrupulous hands if the sale proceeds without stricter privacy safeguards.