.svg)
23andMe co-founder Anne Wojcicki is buying back the bankrupt genetics firm for $305 million through her nonprofit, TTAM Research Institute. The move aims to revive its mission while overhauling data privacy after intense scrutiny and a major user data breach.
Privacy paramount: TTAM has vowed to uphold existing privacy policies and add safeguards, including honoring data deletion requests, notifying users of changes, and establishing a privacy advisory board. This comes as nearly 1.9 million users, about 15% of its base, have reportedly asked for data deletion since the bankruptcy.
Watching the watchers: The buyout unfolds amid significant legal and regulatory pressure. Over two dozen U.S. states have filed lawsuits challenging unconsented data transfers, while U.S. Representatives have demanded clarity on future data practices from potential owners.
Back from bankruptcy: Wojcicki's TTAM Research Institute outbid pharmaceutical giant Regeneron, which now serves as backup. The sale encompasses 23andMe’s personal genome and research services, plus its Lemonaid Health telehealth unit, placing the founder back at the helm after the company's March Chapter 11 filing.
Trust on trial: Wojcicki’s primary challenge will be to rebuild user trust and navigate a skeptical regulatory landscape, all while pursuing 23andMe’s original vision of democratizing genomic information. For customers considering their options with 23andMe, TechCrunch created a guide on how to delete your genetic data.
Reading Recap:
